Hedge Fund COO Accused Of Stealing $250K

Jul 2 2009 | 3:52am ET

A 3V Capital Management executive has been charged with stealing a quarter of a million dollars from a hedge fund managed by his firm.

Mark Focht, chief operating officer of Greenwich, Conn.-based 3V, was charged with grand larceny and forgery. According to prosecutors, he forged an authorization form two years ago allowing him to withdraw the money from an account for the Pierce Diversified Strategy Master Fund, and forged more documents to cover it up a year later.

Focht allegedly used the stolen $250,000 to make a personal investment.

He faces up to 15 years in prison if convicted.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...