Petters-Linked Hedge Funder Says Not Guilty Of New Charges

Sep 25 2012 | 1:53am ET

For the second time, a hedge fund manager charged with aiding the Thomas Petters Ponzi scheme has pleaded not guilty.

Arrowhead Capital Management founder James Fry entered his plea to new charged brought in July. Fry and Frank Vennes, Petters' chief fundraiser who also pleaded not guilty to the new charges earlier this month, face 31 counts of wire fraud, bank fraud, securities fraud, money laundering and making false statements.

Fry was first charged last July. According to prosecutors, he lied to investors about Petters' default on notes owned by Arrowhead and failed to tell clients about Vennes' criminal past. Arrowhead's chief financial officer pleaded guilty to playing a role in Petters' $3.65 billion fraud in April of last year.

Fry and Vennes are set to go on trial in February.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.