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Paul Greenwood and Stephen Walsh
Year made public: 2009
Estimated Losses: $554 million
According to SEC documents, New Yorkers Greenwood and Walsh ran a fraudulent commodities trading company, WG Trading Investors. Instead of pursuing a "stock index arbitrage strategy," Greenwood and Walsh allegedly used the funds as their own "piggy bank," starting in 1996. The firm's assets have been frozen and the SEC has filed a civil complaint in federal court in Manhattan charging the men with fraud. They also face criminal charges.
