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Thursday, January 29, 2015

Greenwich Hedge Fund Controller Pleads Guilty to Bilking $9 Million

Lawrence J. Herzing, 45, of Greenwich, pleaded guilty Thursday before U.S. District Judge Jeffrey Alker Meyer in Bridgeport to one count of wire fraud stemming from his theft of more than $9 million from the hedge fund where he was employed, according to a statement from Connecticut's U.S. Attorney Deirdre M. Daly and Patricia M. Ferrick, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation. According to court documents and statements made in court, Herzing recently was the controller of Greenwich-based Contrarian Capital Management, L.L.C. On 32 occasions between 2004 and 2013, Herzing used his position to wire $9,202,417.54 from his employer to accounts that he controlled.

via Bridgeport Newswire http://ift.tt/1uH7m8J?

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