NEW YORK — Two New York fund managers were arrested on charges they misappropriated $550 million, alleging they used funds invested by charities, university foundations and pension plans to finance their luxurious lifestyles.
Paul Greenwood, 61 years old, and Stephen Walsh, 64, were charged with conspiracy, securities fraud and wire fraud. The men were principals of a broker dealer called WG Trading Co. LP, with offices in Connecticut, New Jersey and New York.
Update: False alarm – offices at Lafayette Court but Greenwood’s from North Salem, Walsh from somewhere else. Our homies are going to have to try harder.