{"id":5610,"date":"2014-04-29T00:00:00","date_gmt":"2014-04-29T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/04\/wg_trading_co_manager_pleads_g"},"modified":"2022-05-05T12:11:06","modified_gmt":"2022-05-05T17:11:06","slug":"wg-trading-co-manager-pleads-g","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/wg-trading-co-manager-pleads-g\/","title":{"rendered":"WG Trading Co. Manager Pleads Guilty To $554M Securities Scam That Targeted Institutional Investors"},"content":{"rendered":"\n

Stephen Walsh, a WG Trading Co. money manager and principal has pleaded guilty to bilking institutional investors <\/a>of more than $554 million over a period of 13 years. Walsh and EG\u2019s ex-general partner Paul Greenwood were charged in 2009 with allegations accusing them of using the investment advisory firm and commodities trading to perpetuate their scam, which took place between 1996 and 2009. Charities, retirement plans, pension flans, and university foundations were among those bilked.<\/p>\n

According to the Federal Bureau of Investigation, the two men raised $7.6 million, misappropriating hundreds of millions for their personal use. They were supposed to put the money in an equity index arbitrage program, which the represented as a conservative trading plan that had done very well for years. <\/p>\n

Investors then either got promissory notes from WG Trading Company or became limited partners. Greenwood and Walsh made it seem as if interest would be paid at a rate that was the equivalent of investment returns made by a limited partner. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Stephen Walsh, a WG Trading Co. money manager and principal has pleaded guilty to bilking institutional investors of more than $554 million over a period of 13 years. Walsh and EG\u2019s ex-general partner Paul Greenwood were charged in 2009 with allegations accusing them of using the investment advisory firm and commodities trading to perpetuate their […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3761],"tags":[3432],"class_list":["post-5610","post","type-post","status-publish","format-standard","hentry","category-securities-and-exchange-commis","tag-wg-trading"],"yoast_head":"\nWG Trading Co. Manager Pleads Guilty To $554M Securities Scam That Targeted Institutional Investors — Investor Lawyers Blog — April 29, 2014<\/title>\n<meta name=\"description\" content=\"Stephen Walsh, a WG Trading Co. money manager and principal has pleaded guilty to bilking institutional investors of more than $554 million over a period — April 29, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/wg-trading-co-manager-pleads-g\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"WG Trading Co. 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