K1 Fraud Trial Scheduled For March

Jan 27 2011 | 12:18pm ET

K1 Group founder Helmut Kiener will face trial in March for allegedly defrauding investors, banks and brokers of €345 million.

Kiener, who has been held in custody since his arrest in October 2009, was charged with forgery, aggravated fraud and tax evasion in November. German prosecutors say he ripped off some 5,000 investors, in addition to his banks, Barclays and BNP Paribas.

Kiener has denied the allegations. His trial is scheduled to begin on March 2 in Würzburg.

A total of eight people have been arrested in for participating in the alleged Ponzi scheme, including three managing directors of K1's administrator and two Kiener associates in the U.S. Another, Dieter Frerichs, a former managing director of two K1 funds, committed suicide in July.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note