Thursday, October 30, 2014

Corporate Controller For Connecticut Hedge Fund Charged With Embezzling $2.4 Million

From WTNH 8 on 10/30/2014:

GREENWICH, Conn. (WTNH) — A man accused of embezzling millions has been charged for his actions. 45-year-old Lawrence Herzing has been arrested on a federal complaint alleging he embezzled millions of dollars from the hedge fund where he was employed.

Herzing recently worked as the controller of Contrarian Capital Management, L.L.C.  On 32 separate occasions in the last nine years he allegedly used his position to wire himself funds.

It’s alleged that two specific wire transfers totaled more than $2.4 million dollars.  The complaint charges Herzing with wire fraud, an offense that carries a maximum term of 20 years in prison.

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