Three Arrests In K1 Hedge Fund Fraud Case

Oct 29 2009 | 12:13pm ET

Police in the U.S. and Germany have made three arrests in connection with the fraud investigation into German fund of hedge funds K1 Group.

The firm’s founder, Helmut Kiener, was arrested yesterday on suspicion of fraud and breach of trust. A German court today ordered him held in custody.

Meanwhile, U.S. police arrested two suspects in Miami and Nebraska, both reportedly connected to the K1 probe.


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