Rocky Mountain News – The first hearing in a federal case against the hedge fund manager accused of hiding massive losses from hundreds of investors, including a few former Denver Broncos players, isset for next week.
Kirk Wright, the founder of Atlanta-based International Management Associates, raised up to $185 million from clients, but most of the money has disappeared, the Securities and Exchange Commission said in a lawsuit filed late last month.
It seems that Wright has, too.
Authorities haven’t been able to locate him or the money.
The hearing had been scheduled for today in a Georgia court, but a filing shows that a jury trial in “an unrelated matter” is supposed to occur at the same time. The hearing now is expected March 14.
“At the appropriate time Mr. Wright will respond to the allegations,” Wright’s lawyer, Jacob Frenkel, told the Rocky Mountain News. “At this point there are two civil lawsuits, and they remain allegations.”
Frenkel would not comment on the last time he spoke with Wright.
