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Paul Greenwood (money manager)

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Paul Greenwood (born 1947) is a former American money manager and town supervisor who was convicted of securities fraud with business partner Stephen Walsh.[1] He was arrested with Walsh on February 24, 2009. The total fraud is estimated at between $550 million and $670 million. On July 28, 2010, he pleaded guilty to securities fraud.[2] On December 3, 2014 he was sentenced to a decade in Federal prison by Manhattan U.S. District Judge Miriam Goldman Cedarbaum, who told him "many people today lost many thousands of dollars as a result of your fraud."[3] Greenwood is a Federal prison inmate (# 61989-054), incarcerated at the Federal medium security prison in Butner, NC. In June of 2016, his 10-year sentence was halved to 5 years at a resentencing hearing.[4] His scheduled release date is 7/23/2019.[5]

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 Greenwood, Walsh, and their companies such as Westridge Capital Management Inc. and WG Trading Company.[6][7]

Greenwood and Walsh used to be investors in the New York Islanders hockey team.

Prior to his arrest, Greenwood was the town supervisor of North Salem, NY and a treasurer at the local St. James Episcopal Church.[8]

See also

References

  1. ^ Lieberman, Steve (29 June 2016). "Former North Salem Supervisor Paul Greenwood sees prison term slashed". Lohud.com. Retrieved 22 March 2018.
  2. ^ https://www.bloomberg.com/news/2010-07-28/paul-greenwood-wg-trading-hedge-fund-manager-to-plead-guilty-to-fraud.html
  3. ^ http://www.lohud.com/story/news/local/westchester/2014/12/03/paul-greenwood-sentenced-securities-fraud/19841599/
  4. ^ Riley, John (29 June 2016). "Ex-Islanders co-owner Paul Greenwood's sentence reduced". NewsDay. Retrieved 22 March 2018.
  5. ^ http://www.bop.gov/inmateloc/
  6. ^ Zachery Kouwe, "Two Money Managers Held in New Wall Street Fraud", New York Times (February 25, 2009)
  7. ^ Note: Zachery Kouwe resigned from the Times over plagiarism accusations in Feb. 2010. 2010-02-27.
  8. ^ Dienst, Jonathan (16 July 2009). "Wall Street Fraud Schemes Lead to 4 Arrests". News 4 New York. Retrieved 22 March 2018.
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