Kirk Wright - The Miami Stopover
Some interesting details about Mr. Kirk Wright have emerged from the Court files in Miami, where Mr. Wright was arrested. As readers will recall, part of Mr. Wright's method was to give his investors phoney statements which showed large returns. Apparently as late as February 15, 2006 Mr. Wright was insisting that Ameritrade was holding the funds. Searches by the Ameritrade staff showed only funds of approximately $150,000, and not the $150 or $160 million Mr. Wright was claiming. It took the Director of Compliance for Ameritrade at little more than a week to confirm that Ameritrade only held $150,000 for Wright's companies. Amusingly enough, the 800 number of the Ameritrade statements used by Mr. Wright were also in error; no such number nor address is connected to Ameritrade. One other company was related to IMA, J&B Oxford & Company was also located by the Director of Compliance, but the account was closed.
How was Mr. Wright able to get away with not showing the investors what he invested in and where the money was? Was it a secret?
Technorati Tags: ameritrade, phoney, 800 number, ima, kirk wright
Using a tried and tested method, Mr. Wright "refused to provide any copies of the accounts statements [to his investors] claiming that they contained confidential and proprietary information about his trading, investment strategies and decisions". Since Mr. Wright, apparently had less than 1% of his client's funds invested through Ameritrade, the statements certainly would have revealed a great deal about his investment strategies. The due diligence question remaines: could you not have at least tried the 800 number on the Ameritrade "account" statement?
Technorati Tags: ameritrade, phoney, 800 number, ima, kirk wright
Comments
You have no idea if this man Kirk Wright was a part of a set up. Due to the fact that right off the back he was accused of illegal actions, so now in everyones mind set he will always be guilty.
Posted by: mercedes ace | June 13, 2006 9:26 AM
The ones who were set up were the hundreds of unsuspecting investors who were financially wiped out while Kirk Wright was living in luxury at their expense. The facts of the case will speak for themselves and I fear that you will be greatly disappointed if you actually believe that he is the victim of a set up.
Posted by: Anon | June 13, 2006 11:02 AM
Who do you think set Kirk Wright up and is the real culprit behind this crime? I'd be interested in knowing of the possible suspects.
Posted by: Ann | August 11, 2006 3:54 PM