Wright Convicted, Takes Own Life

Filed in archive Hedgetalk on May 26, 2008

Kirk Sean Wright, CEO of hedge fund International Management Associates of Atlanta hanged himself in a Union City jail cell Saturday night.

Wright was convicted by a federal jury on 47 counts of mail fraud, securities fraud and money laundering stemming from a scam run through his hedge fund, International Management Associates. He collected between $115 million and $185 million for his hedge fund from at least 500 investors since 1997.

Wright maintained his innocence until the end, contending that simple mis-management was to blame for his investors' losses.

More here.