Hedge Fund Compliance Officers

February 6, 2016
The Compliance Report in
Paul Greenwood, former part who owns the brand new You are able to Islanders (Image thanks to ESPN)The previous chief compliance officer of WG Buying and selling Company will not serve amount of time in prison after she assisted prosecutors jail the firm’s a couple for any $554 million fraud plan.

Deborah Duffy was sentenced to time offered. She'd provided critical evidence against Paul Greenwood and Steven Walsh in regards to a plan to steal using their institutional clients.

From a minimum of 1996 until early 2009, Walsh and Greenwood elevated $7.6 billion in investor funds. The cash was said to be committed to a course known as “equity index arbitrage.” Walsh and Greenwood referred to it as being "a conservative buying and selling strategy which had outperformed the outcomes from the S&P 500 Index in excess of 10 years, " the DOJ stated.

The 2 partners misappropriated $554 million in the fund. They used the cash to purchase equine farms, collectible teddies, and cars, the DOJ stated.

Duffy, 59, of Mahwah, Nj, was sentenced to 1 year of supervised release and purchased to forfeit nearly $1.3 million.

Greenwood is really a former part who owns the NHL’s New You are able to Islanders. He pleaded guilty this year. Recently federal judge Miriam Goldman Cedarbaum sentenced him to ten years imprisonment.

Compliance chief Duffy pleaded guilty in '09 to money washing, investments fraud, and conspiracy. She approved fraudulent fund transfers of approximately $100 million and produced promissory notes in the partners that mislead traders.

Manhattan U.S. Attorney Preet Bharara stated: “Deborah Duffy abdicated her oversight responsibility at WG Buying and selling, enabling Walsh and Greenwood to perpetuate their massive investment fraud plan. . . . Her sentence today reflects both her acknowledgment of her guilt and the need for her cooperation.”

Throughout the fraud, Duffy offered because the chief compliance officer of WG Buying and selling. "Among other responsibilities, " the DOJ stated, "she maintained the books and records of WG Buying and selling, conveyed with WG Trading’s government bodies and auditors, and eager and maintained the promissory notes signed by Walsh and Greenwood."

WG Trading's institutional traders incorporated charitable and college fundamentals, and retirement and pension plans, the DOJ stated.

See also:
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Source: www.fcpablog.com
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