More On The Multi-Million Dollar Greenwich Ponzi Scheme That The Clueless Greenwich Time Fails To Cover .....Wall Street scam may cost Sacramento County pension system $52 million
Sacramento Bee
....The Sacramento County Employees Retirement System, or SCERS, had invested $90 million with the men and their companies in June, said Richard Stensrud, SCERS' chief executive officer.
The recession had "whittled down" that investment to about $57 million when SCERS officials first learned there might be a problem, he said.
The National Futures Association, a regulatory group, suspended Greenwood and Walsh earlier this month following an audit that allegedly uncovered fraud, court documents say.
Learning of that audit, pension officials tried to track down their money and managed to retrieve about $5 million, Stensrud said. Another $52 million is still in limbo.
The feds have frozen the companies' assets, according to a spokesman with the U.S. Commodity Futures Trading Commission.
"I'd be surprised if we get none of it back," Stensrud said. "How much we will be able to recover remains to be seen.".......
.......According to court documents, Greenwood and Walsh are suspected of using millions of dollars in misappropriated funds to buy rare books, horses, $80,000 teddy bears and a $3 million home for Walsh's ex-wife. Since 1996, the men fraudulently solicited $1.3 billion through their companies, the documents allege......
The Two Greenwich Fraudsters
Also Stole From Iowa Retireees Hard Earned Pensions:
2 investment managers linked to frozen IPERS assets are arrested
DesMoinesRegister.com
DesMoinesRegister.com
Court documents identified Greenwood and Walsh as owners of WG Trading Co. LP of Greenwich, Conn., and Westridge Capital Management Inc., based in ...
UI The Daily Iowan
WHO-TV
WOI
PLEASE ALSO SEE:
When Is Hearst Newspapers Going To Wake Up Greenwich Time Managing Editor Bruce Hunter, Who Is A Sleep At The Switch ?
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