K1-Linked Businessman Pleads Not Guilty

Nov 5 2009 | 3:15pm 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.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

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

AIMA: How The U.K.'s SMCR Will Affect U.S. Firms

Jun 20 2017 | 6:29pm ET

U.S. investment managers need to think seriously about how tough new U.K. conduct...

 

From the current issue of