Stephen Walsh (money manager)

Stephen Walsh (born 1944) is an American former money manager who was arrested on February 24, 2009 for alleged securities fraud of between $550 million and $670 million. Walsh was a principal of Westridge Capital Management Inc. and chief financial executive of WG Trading Company.[1] He was accused with business partner Paul Greenwood of using his companies for fraud.

The University of Pittsburgh, Carnegie Mellon University, Wells Fargo Bank, the Sacramento County Employees Retirement System, and the Kern County Employees Retirement Fund are reported to have lost millions due to the two managers.[2]

Walsh and Greenwood were previously investors in the New York Islanders hockey team. At the time of his arrest he was also the President of Sands Point Golf Club, a very limited golf and skeet/trap shooting facility on the north shore of Long Island.

Walsh pleaded guilty in April 2014 and is serving his 20-year sentence at the low-security Federal Correctional Institution in Danbury, Connecticut.[3]

On May 8, 2019 at a Habeas Corpus hearing, Stephen Walsh was granted immediate release by Judge Loretta Preska. The court found that “ investors have been made whole. “

See also

References
  1. Ax, Joseph (9 January 2015). "Hedge fund exec avoids prison for role in long-running $554 mln fraud". Reuters. Retrieved 22 March 2018.
  2. Zachery Kouwe, "Two Money Managers Held in New Wall Street Fraud", New York Times (February 25, 2009)
  3. "71-Year-Old Money Manager Told to Spend 20 Years Behind Bars". Newsmax. 27 April 2016. Retrieved 22 March 2018.
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