Prosecutors Drop Charges Against Hedge Fund Manager In Boating Accident

Mar 31 2010 | 2:30am ET

A Florida hedge fund manager has been cleared in a 2006 boating accident that left two college students dead.

Miami-Dade County prosecutors have determined that the Biscayne Bay collision was a “tragic, unfortunate and horrible accident.” They dropped a misdemeanor charge of violating navigational rules against the hedge fund manager, Roland Desrochers.

Desrochers’ boat, the Intrepid, collided with a three-boat flotilla. Florida International University students James Noel and Monica Burguera were killed. Noel had rented six boats for his friends to celebrate his birthday and was on one that died, which was being towed back to the rental company, Club Nautico. The towing boat also stopped to pick up another disabled boat that it came across.

Prosecutors determined that “the lack of lights on behalf of the tow flotilla of boats was a major contributing factor to the accident.”

Both Desrochers and Club Nautico have settled civil suits with the victims’ families.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...