NEW YORK - FEBRUARY 25: Paul Greenwood of WG Trading Co., a broker- dealer based in Greenwich, Connecticut, leaves Federal Court in Lower Manhattan February 25, 2009 in New York City. Greenwood and partner Stephen Walsh are accused of operating a $550 million securities fraud scheme. (Photo by Mario Tama/Getty Images) *** Local Caption *** Paul Greenwood
It seems in retrospect that there are always warnings, and such is the case with Santa Barbara, California–based money manager Westridge Capital Management, whose two principals are accused of bilking more than $500 million from clients.
“There were yellow flags,” says Randy Shain, vice president of New York–based First Advantage Investigative Services, a firm that conducts background inquiries on money managers.
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