Report: Accused hedge fund CEO threatened by clients
Lawyer says CEO of Atlanta-area hedge fund that is accused of defrauding current and former NFL players has been threatened by ex-football player clients, says paper.
NEW YORK (CNNMoney.com) - The manager of a hedge fund accused of defrauding current and former professional football players is reported to be hiding out from former players who have threatened him.
The Atlanta Journal Constitution quotes Jacob Frenkel, an attorney for Kirk Wright, the CEO of International Management Associates LLC, who said that his client has been hiding out due to the threats. The paper reports that Wright, 36, has been missing for nearly a month, since his offices were closed and the assets frozen by court order.
"Because of threats made against him, he has chosen to make his whereabouts unknown," Frenkel told the paper.
Frenkel told the paper an ex-NFL player who was a client of the fund threatened Wright, and another, posing as a law enforcement officer, confronted a worker at Wright's home in Marietta, Ga., and demanded to know his location. Frenkel would not identify which former players had made the threats.
Terrell Davis, Steve Atwater, Rod Smith, Ray Crockett, Blaine Bishop and Al Smith, are all either current or former members of the Denver Broncos, and Clyde Simmons, who played for five teams, primarily the Philadelphia Eagles, have together filed a suit against International Management Associates. The paper reports that Bishop lost $4.1 million in the fund, while Atwater lost $3.3 million and Davis lost $2.1 million.
The paper reports that Wright also has an outstanding warrant for his arrest pending. It was issued by a Fulton County, Ga., judge following the lawsuit brought by the football players. Wright also has since been targeted with more civil suits.
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