Hedge fund manager Kirk Wright routinely exaggerated the sum of money in his clients' accounts by what amount?
Kirk Wright was the CEO of International Management Associates, a hedge fund business based in Atlanta. Over a ten-year period, the company kept offices in three other cities and had thousands of clients worth millions of dollars in investments. The only hiccup was that Wright had been reporting investment gains that were 200 times greater than the reality --- in fact, Kirk had either lost his clients' money on bad investments or spent it on himself. Once arrested, Wright faced a mutli-million-dollar fine and upwards of 700 years in prison, but he committed suicide before facing sentencing.
SOURCE: IMA Founder Kirk Wright Guilty Of Fraud, Money Laundering | Atlanta Business Chronicle