New York (HedgeCo.net) – CNBC analyst and hedge fund manger, Brian Kim, is wanted by the SEC over an alleged Ponzi scheme.
The New York Daily News reported that Kim was indicted on grand larceny and other charges involving a $4 million scheme that began in 2003. Kim stands accused of swindling over 45 West Coast investors in New York.
Kim failed to appear for an unrelated trial in January, and has been laying low since. Manhattan District Attorney Cyrus R. Vance Jr. declared Kim a “fugitive” and had his assets frozen.
“Kim reportedly used two 2009 appearances on CNBC’s financial news show “Squawk Box” to advertise his phony hedge fund, Liquid Capital Management.” The news source said. “Kim is accused of funneling most of the stolen cash – nearly all of which was eventually lost to highly risky investments – into several business accounts in an attempt to cover investor losses.”
Kim faces up to 25 years behind bars if found and convicted.
Alex Akesson
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