Thursday, 24 July 2014
Last updated 6 hours ago
Nov 5 2009 | 2:15pm ET
One of the two U.S.-based businessmen linked to the alleged K1 Group hedge fund fraud in Germany has pleaded not guilty.
Thomas Meyer of Omaha, Nebraska, is charged with one count of money laundering. He entered his plea today in Philadelphia federal court.
Meyer and another man, Stefan Seuss, were arrested in the U.S. on the same day that K1 founder Helmut Kiener last week, were caught in a sting operation ran by the Federal Bureau of Investigation and Internal Revenue Service. The two men allegedly offered to move money for a software and CD/DVD pirate who turned out to be an undercover federal agent.
If convicted, each faces up to 20 years in prison. Suess is reportedly cooperating with investigators.
Authorities have not said the charges against Meyer and Seuss have anything to do with the K1 probe, but they are reportedly linked. Kiener faces charges that he misled his banks and brokers, leading to about US$400 million in possible losses.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…