A warrant has been issued for the arrest of Kirk Wright, founder of International Management, an Atlanta-based hedge fund that counted among it's clientele several National Football League players. The SEC has filed a lawsuit against Wright and his company in relation to fraudlent financial statements indicating that the fund had some $185 million in assets with Ameritrade. The SEC subsequently confirmed that International Management had less than $500,000 in it's Ameritrade account.

Doesn't quite sound like a book-keeping error does it?

Read more here.

And for links to several additional articles, check out the blog maintained by Connecticut-based Toomre Capital Markets.

-- MDT

Labels: Kirk Wright