Paul Greenwood (money manager)

Paul Greenwood (born 1947) is an American money manager who was convicted of securities fraud with business partner Stephen Walsh. He was arrested with Walsh on February 24, 2009. The total fraud is estimated at between $550 million and $670 million. On July 28, 2010, he pleaded guilty to securities fraud. [1] On December 3, 2014 he was sentenced to a decade in Federal prison by Manhattan U.S. District Judge Miriam Goldman Cedarbaum, who told him "many people today lost many thousands of dollars as a result of your fraud." [2] Greenwood is a Federal prison inmate (# 61989-054), incarcerated at the Federal medium security prison in Butner, NC. His scheduled release date is 11/30/2023.[3]

The University of Pittsburgh, Carnegie Mellon University, Wells Fargo Bank, the Sacramento County Employees Retirement System, and the Kern County Employees Retirement Fund are reported to have lost millions due to Greenwood, Walsh, and their companies such as Westridge Capital Management Inc. and WG Trading Company.[4][5]

Greenwood and Walsh used to be investors in the New York Islanders hockey team.

See also

References

  1. ↑ http://www.bloomberg.com/news/2010-07-28/paul-greenwood-wg-trading-hedge-fund-manager-to-plead-guilty-to-fraud.html
  2. ↑ http://www.lohud.com/story/news/local/westchester/2014/12/03/paul-greenwood-sentenced-securities-fraud/19841599/
  3. ↑ http://www.bop.gov/inmateloc/
  4. ↑ Zachery Kouwe, "Two Money Managers Held in New Wall Street Fraud", New York Times (February 25, 2009)
  5. ↑ Note: Zachery Kouwe resigned from the Times over plagiarism accusations in Feb. 2010. 2010-02-27.

External links

This article is issued from Wikipedia - version of the Wednesday, September 09, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.