{"id":10210,"date":"2009-03-27T00:00:00","date_gmt":"2009-03-27T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"ponzi-funds-said-missing","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/ponzi-funds-said-missing.html","title":{"rendered":"Ponzi Funds Said Missing"},"content":{"rendered":"<p>Wall Street Journal &#8211; Prosecutors said $160 million is unaccounted for in a Ponzi scheme allegedly run by hedge-fund manager James Nicholson. <\/p>\n<p>At a bail hearing Thursday, Assistant U.S. Attorney Maria E. Douvas said the government&#8217;s investigation showed that $293 million was invested with Mr. Nicholson, who was president and general partner of Westgate Capital Management LLC. Of that, $160 million is unaccounted for, Ms. Douvas said.<\/p>\n<p>Prosecutors had alleged that Mr. Nicholson, of Saddle River, N.J., falsely represented to investors that the firm had assets under management ranging from $600 million to $900 million.<\/p>\n<p>At Thursday&#8217;s hearing, U.S. Magistrate Judge Ronald L. Ellis in Manhattan didn&#8217;t change the bail conditions set for Mr. Nicholson &#8212; a $10 million personal recognition bond, with five co-signers and secured by three pieces of property. He also would be subject to home detention and electronic monitoring.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB123811983189654099.html?mod=googlenews_wsj&#038;mg=com-wsj\" target=\"_self\">Read Complete Article <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street Journal &#8211; Prosecutors said $160 million is unaccounted for in a Ponzi scheme allegedly run by hedge-fund manager James Nicholson. At a bail hearing Thursday, Assistant U.S. Attorney Maria E. Douvas said the government&#8217;s investigation showed that $293 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[643,1007,3314,6267,2135,37,6266,4504,8227,5779,327,9689,9690,4248,539,9691,9692,4464,2750],"class_list":["post-10210","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-10-million","tag-assets-under-management","tag-capital-management-llc","tag-electronic-monitoring","tag-general-partner","tag-hedge-fund-manager","tag-home-detention","tag-investors","tag-james-nicholson","tag-magistrate-judge","tag-manhattan","tag-mr-nicholson","tag-personal-recognition","tag-ponzi-scheme","tag-prosecutors","tag-saddle-river","tag-three-pieces","tag-wall-street","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10210"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10210\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}