Former Fugitive Hedge Fund Manager Pleads Not Guilty

Nov 7 2011 | 1:19pm ET

Accused hedge fund fraudster Brian Kim is back in the U.S.—and denying allegations that he ran a $6 million Ponzi scheme.

Kim returned to the U.S. last month after his capture abroad. At his first court appearance in Manhattan yesterday, he pleaded not guilty to charges that he lied to investors about his Liquid Capital Management, telling them he would put their money into safe investments while actually losing money on futures contracts and stealing some of the rest.

Kim also entered pleas on charges that he ripped his Manhattan condominium association off to the tune of $430,000 and bail-jumping.

Kim disappeared using a fraudulently-obtained passport—he had surrendered his original after being charged with stealing the money from his condo—late last year or earlier this year. He still faces federal charges for allegedly lying to get the new passport.

"Those who prey upon unsuspecting investors and attempt to evade responsibility will be held accountable," Manhattan District Attorney Cyrus Vance said.


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