{"id":5696,"date":"2014-12-04T00:00:00","date_gmt":"2014-12-04T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/12\/money_manager_paul_greenwood_g"},"modified":"2022-05-06T11:57:28","modified_gmt":"2022-05-06T16:57:28","slug":"money-manager-paul-greenwood-g","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/","title":{"rendered":"Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud"},"content":{"rendered":"\n<p>The U.S. Commodity Future Trading Commission says that hedge fund Paul Greenwood has been sentenced to ten years behind bars. Greenwood, who was the general partner of WG Trading Co., pleaded guilty to numerous criminal charges, including securities fraud, wire fraud, money laundering, commodities fraud, and conspiracy in 2010. <\/p>\n<p>Greenwood and fellow WG Trading manager Steven Walsh were indicted on charges that accused them of conspiring to bilk investor of $554 million in an investment scam that U.S. prosecutors say ran from 1996 through 2009.  Greenwood admitted to \u201csort of\u201d operating a Ponzi scam and spending a minimum of $75 million of investors\u2019 funds to pay for his passion for museum-grade teddy bears and other lavish spending. The scheme purportedly cost investors somewhere between $800 million to $900 million.<\/p>\n<p>U.S. District Judge Miriam Goldman Cedarbaum, who sentenced Greenwood, told him to forfeit another $83.5 million. He has until February 9, 2015 to report to prison. Prosecutors told the judge that Greenwood helped the government with its case. He also assisted a court-appointed receivership in finding around $900 million, which is nearly 90% of investor claims. As part of his plea deal, Greenwood said he would forfeit at least $331 million to the government. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/\"  title=\"Continue Reading Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Commodity Future Trading Commission says that hedge fund Paul Greenwood has been sentenced to ten years behind bars. Greenwood, who was the general partner of WG Trading Co., pleaded guilty to numerous criminal charges, including securities fraud, wire fraud, money laundering, commodities fraud, and conspiracy in 2010. Greenwood and fellow WG Trading manager [&hellip;]<\/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":[3810,3741],"tags":[3472,3432],"class_list":["post-5696","post","type-post","status-publish","format-standard","hentry","category-cftc","category-securities-fraud","tag-paul-greenwood","tag-wg-trading"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud &#8212; Investor Lawyers Blog &#8212; December 4, 2014<\/title>\n<meta name=\"description\" content=\"The U.S. Commodity Future Trading Commission says that hedge fund Paul Greenwood has been sentenced to ten years behind bars. Greenwood, who was the &#8212; December 4, 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\/money-manager-paul-greenwood-g\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud &#8212; Investor Lawyers Blog &#8212; December 4, 2014\" \/>\n<meta name=\"twitter:description\" content=\"The U.S. Commodity Future Trading Commission says that hedge fund Paul Greenwood has been sentenced to ten years behind bars. Greenwood, who was the &#8212; December 4, 2014\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud &#8212; Investor Lawyers Blog &#8212; December 4, 2014","description":"The U.S. Commodity Future Trading Commission says that hedge fund Paul Greenwood has been sentenced to ten years behind bars. Greenwood, who was the &#8212; December 4, 2014","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/","twitter_card":"summary_large_image","twitter_title":"Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud &#8212; Investor Lawyers Blog &#8212; December 4, 2014","twitter_description":"The U.S. Commodity Future Trading Commission says that hedge fund Paul Greenwood has been sentenced to ten years behind bars. Greenwood, who was the &#8212; December 4, 2014","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud","datePublished":"2014-12-04T06:00:00+00:00","dateModified":"2022-05-06T16:57:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/"},"wordCount":530,"keywords":["Paul Greenwood","WG Trading"],"articleSection":["CFTC","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/","url":"https:\/\/www.investorlawyers.com\/blog\/money-manager-paul-greenwood-g\/","name":"Money Manager Paul Greenwood Gets 10 Years in Prison for $1.3B Investment Fraud &#8212; Investor Lawyers Blog &#8212; December 4, 2014","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2014-12-04T06:00:00+00:00","dateModified":"2022-05-06T16:57:28+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The U.S. Commodity Future Trading Commission says that hedge fund Paul Greenwood has been sentenced to ten years behind bars. 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