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March 31, 2006

Kirk Sean Wright Declared Fugitive

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In the ongoing SEC action against IMA and Kirk Sean Wright, the United States Attorney has charged Mr. Wright with mail fraud and issued a warrant for his arrest. There are allegations, which have not been proved, that between $150 million and $180 million are missing. Although, Mr. Wright has been represented by counsel, the FBI has issued an arrest warrant and released his picture.

The mail fraud allegation stems from Mr. Wright sending false asset statments to an investor Mr. Atwater. Mr. Atwater and other have sued Mr. Wright civilly.

Several other investors had previously asked to replace the state's receiver with Kroll Associates. Judge Charles A. Pannell has yet to rule on this request, but has allowed challenges to the receiver's expenses to be made by other parties.

Technorati Tags: mail fraud, arrest warrant, fbi, kroll associates, atwater, united states attorney, sec action, allegation, ima, stems, allegations, counsel, investors


Technorati Tags: mail fraud, sec action, united states attorney, arrest warrant, technorati, kroll associates, atwater, fbi, allegation, ima, stems, allegations, counsel, investors

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