GREENWICH FRAUDSTERS, PAUL GREENWOOD AND STEPHEN WALSH NOT ONLY MISMANAGED INVESTORS MONEY AT WG TRADING THEY MISMANAGED THE NEW YORK ISLANDERS TOO.From at least 1996, Walsh and Greenwood raised roughly $1.3 billion from investors....
Former Islanders owners Greenwood and Walsh arrested
New York Daily NewsBY Thomas Zambito
DAILY NEWS STAFF WRITER
Two former members of the New York Islanders' infamous Gang of Four ownership group were arrested on securities fraud charges today for swindling top-flight universities out of hundreds of millions of dollars.
Paul Greenwood and Stephen Walsh were arrested today and are expected to appear in Manhattan Federal Court this afternoon.
The two were members of the much-maligned ownership group that led the Islanders during some bleak years in the early 1990s, following a string of Stanley Cup championships a decade before.
Walsh and Greenwood were suspended by the National Futures Association last week after they refused to cooperate with an audit. The move prevented them from placing any trades on accounts they controlled or soliciting investor funds.
Last week, the University of Pittsburgh and Carnegie Mellon University sued the duo's Greenwich, Ct.-based Westridge Capital Management, demanding the return of $114 million.
The feds say Greenwood bought horses with the stolen cash, and Walsh paid for a luxury apartment for his ex-wife as part of a divorce settlement.
Charities, universities, pension plans and others had investments of $668 million with WG Trading Investors run by Greenwood and Walsh.
PLEASE ALSO SEE:
You Won't Read This In The Greenwich Time, The Greenwich Citizen Or The Greenwich Post ......
Here Is A Picture Of Greenwich Fraudster Paul "I am Not Cooperating With No Stinking Audit" Greenwood Who Is Now Under Arrest
Newsday, NY
NEW YORK - The FBI says the operators of a Connecticut-based firm company have been arrested in New York on securities fraud charges.
Paul Greenwood and Stephen Walsh, principals of WG Trading Company LP, were awaiting a federal court appearance in Manhattan on Wednesday.Earlier this month, a regulatory agency for the U.S. futures industry suspended Greenwood and Walsh, accusing them of refusing to answer questions about the transfer of $350 million to another fund.
Do We Have A Mini-Bernie Madoff Ponzie SchemeRight Here In Greenwich?
THE HEADLINES:
YOU THOUGHT FAIRFIELD GREENWICH GROUP WAS BAD:
What About WG Trading?
Paul Greenwood And Stephen Walsh Make Greenwich Resident Walter "Feeder Fund" Noel Look Like A Boy Scout
University of Pittsburgh and Carnegie Mellon University files Federal lawsuit against Greenwich Traders Paul Greenwood and Stephen Walsh
Pitt and CMU have also notified the Securities and Exchange Commission and the Commodities Futures Trading Commission About Greenwood And Walsh
THE QUOTE:
"We don't want to talk with you. Why would we want to talk to a reporter," said a woman at Paul Greenwood's Westchester, N.Y., home who identified herself as his wife.
THE STORY:
Pittsburgh Post-Gazette
.....The MRA suspends Greenwood and Walsh from NFA membership indefinitely. The MRA also prohibits Greenwood and Walsh or anyone acting on their behalf from soliciting or accepting any customer or pool participant funds and they are prohibited from placing trades for any pools that they operate or control except to liquidate existing positions. Additionally, the MRA prohibits them from disbursing or transferring any funds from any accounts which either of them own, control or which are held in either of their names without prior approval from NFA......
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