Kirk Wright Commits suicide in jail after Fraud Conviction
The Boston Herald has reported that Kirk Wright has committed suicide after being convicted in his criminal trial of fraud.
"A man convicted in a multimillion dollar investment fraud whose victims included pro football players has committed suicide in jail, an official said Sunday.Kirk Wright, 37, hanged himself in the Union City jail on Saturday, said investigator Betty Honey with the Fulton County Medical Examiner's office.
Wright, of Marietta, Ga., was convicted Wednesday of leading an investment scheme that bilked millions of dollars from clients ranging from NFL players to his mother."
I have blogged extensively about Kirk Wright throughout the years.
And just recently, Kirk Wright was convicted in his criminal trial.
" A former investment manager from Marietta, Ga., is facing up to 710 years in prison and a $16 million fine after being found guilty on Wednesday on counts of mail fraud, securities fraud and money laundering over a $150 million hedge fund scheme.After a two-week trial in Atlanta, a federal jury has returned a guilty verdict against Kirk Wright, 37, following the 2006 collapse of Atlanta-based International Management Associates (IMA). The jury found Wright guilty on all counts.
Wright was the founder, CEO and portfolio manager of IMA, which offered seven separate hedge funds from 1997 through early 2006. IMA also maintained offices in New York, Los Angeles, and Las Vegas. By early 2006, IMA had thousands of client accounts, and had taken in more than $150 million in investments. "
Some prior posts which may be of interest.
What is Kirk Wright Up to These Days?
New Details from Kirk Wright's Secret House Deal
Comments
Wright, in my opinion, was used by some of his backers - who well knew the limitations of his abilities.
Posted by: admin
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January 16, 2009 5:42 PM
I wonder if Wright got his idea for a ponzi scheme from what was apparently not uncommonly known about Madoff's scam, including having a close relationship with the SEC. Too bad the SPIC will only bend its coverage rules for the Madoff crowd.
Posted by: Anonymous | January 7, 2009 5:29 PM