James Nicholson (American businessman)

James Michael Nicholson (born 1966) was an American businessman and was the head of the investment firm Westgate Capital Management. The headquarters of Westgate Capital was located in Pearl River, New York. Nicholson was arrested on February 25, 2009, by the FBI[1] and charged by the SEC for allegedly "defraud[ing] hundreds of investors of millions of dollars".[2] Nicholson was indicted by the US Attorney for the Southern District of New York, on April 23, 2009, and was sentenced to 40 years in prison after pleading guilty to defrauding investors in the Ponzi scheme. Nicholson is serving his sentence at the Federal Correctional Institution (FCI) Ray Brook, a medium security facility for male offenders located in Upstate New York, midway between the villages of Lake Placid and Saranac Lake.[3]

References

Hays, Tom (February 25, 2009). "2 arrests in NY securities fraud case". Yahoo News. Retrieved February 25, 2009.
"SEC Emergency Action Halts Fraud at Unregistered Hedge Fund". SEC. February 25, 2009. Retrieved February 25, 2009.
Van Voris, Bob (October 29, 2010). "Westgate Capital's James Nicholson Sentenced to 40 Years for Ponzi Scheme". Bloomberg. Retrieved February 20, 2011.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.

[1] Hays, Tom (February 25, 2009). "2 arrests in NY securities fraud case". Yahoo News. Retrieved February 25, 2009.

[2] "SEC Emergency Action Halts Fraud at Unregistered Hedge Fund". SEC. February 25, 2009. Retrieved February 25, 2009.

[3] Van Voris, Bob (October 29, 2010). "Westgate Capital's James Nicholson Sentenced to 40 Years for Ponzi Scheme". Bloomberg. Retrieved February 20, 2011.