{"id":3623,"date":"2005-11-21T00:00:00","date_gmt":"2005-11-21T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"us-arrests-three-in-hedge-fund-case","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2005\/us-arrests-three-in-hedge-fund-case.html","title":{"rendered":"US Arrests Three In Hedge Fund Case"},"content":{"rendered":"<p>  Washington Post &#8211; Frank L. Cowles Jr. is known in the Northern Virginia business community as the owner of car dealerships and a founding director of Virginia Commerce Bank in Arlington. Now, at  age 76, he is facing allegations of a criminal conspiracy to defraud an Illinois hedge fund out of $25 million.<\/p>\n<p>  Cowles was arrested at his Scottsville horse farm last week and released on $1 million bail, said Randall Samborn, a spokesman for Patrick J. Fitzgerald, the U.S. attorney in Chicago. Cowles made  his first appearance in U.S. District Court in Chicago on Thursday.<\/p>\n<p>  In a criminal complaint filed by Fitzgerald on Tuesday, Cowles was accused of lying to a hedge fund manager, who was not identified, about the nature of a $25 million investment. According to the  complaint, Cowles and two associates induced the hedge fund manager to make the investment, promising 10 percent profit per week in a deal that they claimed was being overseen by a Federal Reserve  administrator.<\/p>\n<p>  <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2005\/11\/20\/AR2005112000910.html\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington Post &#8211; Frank L. Cowles Jr. is known in the Northern Virginia business community as the owner of car dealerships and a founding director of Virginia Commerce Bank in Arlington. Now, at age 76, he is facing allegations of [&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":[],"class_list":["post-3623","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3623","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=3623"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3623\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}