West Palm Beach (HedgeCo.net)- Kirk Wright’s Atlanta-based hedge fund company, International Management Associates, was found to be fraudlent leading to the conviction of the manager, Wright, as the Department of Justice unsealed a March 10 criminal complaint against him. <\/p>\n
"The complaint alleges a fraud involving $150 million to $180 million in missing investor assets managed by Wright’s funds, International Management Associates and International Management Associates Advisory Group," said U.S. Attorney David Nahmias in a statement. <\/p>\n
The federal complaint charges mail fraud, executed by mailing a set of false asset statements to IMA investor Stephen Atwater. The charge carries a maximum sentence of 20 years in prison and a fine of up to $250,000 on conviction. <\/p>\n
According to authorities, Wright and his company collected more than $150 million spread across thousands of client accounts since 1997 and used false statements and documents to mislead some of them to believe the value of those investments was increasing. <\/p>\n
Sentencing is set for August 26.<\/p>\n
Alex Akesson<\/p>\n
Editor for HedgeCo.Net HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! West Palm Beach (HedgeCo.net)- Kirk Wright’s Atlanta-based hedge fund company, International Management Associates, was found to be fraudlent leading to the conviction of the manager, Wright, as the Department of Justice unsealed a March 10 criminal complaint against him. "The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[300,100,303,297,298,302,110,304,299,301,296,106,294,295],"class_list":["post-7769","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","tag-accounting-firm","tag-boston","tag-brokerages","tag-david-nahmias","tag-department-of-finance","tag-director-john","tag-due-diligence-service","tag-hauser","tag-luxury-cars","tag-mail","tag-national-football-league","tag-prison-term","tag-real-estate-investment-trusts","tag-reversals"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7769","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=7769"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7769\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Email: alex@hedgeco.net<\/a><\/p>\n
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