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Thursday, October 30, 2014

Ex-Contrarian Executive Charged With Embezzling Millions

Lawrence Herzing, the former controller of Contrarian Capital Management LLC, was arrested and charged with embezzling millions of dollars from the hedge fund, federal prosecutors said. Herzing, 45, of Greenwich, Connecticut , wired funds from Contrarian to accounts he controlled 32 times from 2004 to 2013, with two transfers totaling more than $2.4 million, according to a copy of a criminal complaint provided by prosecutors.


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