A hearing is scheduled for today in connection with the Arizona attorney general's seizure of $101 million from a Wachovia bank account that may belong to a hedge fund being investigated for fraud, Since the seizure, prosecutors have encountered several ownership claims as well as some "artful stories," one involving a gold mine. Prosecutors have asked a judge to appoint a special master to examine the claims and make a recommendation about the rightful owner of the money.
September 01, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Arizona authorities have seized $101 million from a bank account that may belong to a hedge fund being investigated for fraud.
The Arizona Attorney General’s Office seized the money on May 19 from a Wachovia Corp. account after authorities were alerted that the funds were being moved systematically all over the world — often an indication of fraud, Attorney General Terry Goddard said Tuesday after media and investors’ lawyers began inquiring about the money.
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