Sign in to comment!

Menu
Home

Crime & Courts

Fugitive hedge fund manager facing charges in California captured at art gallery in Italy

U.S. authorities in California say a fugitive German hedge fund manager has been arrested in Italy for allegedly orchestrating a stock manipulation scheme that led to at least $200 million in losses to investors across the world.

Federal prosecutors say 53-year-old Florian Wilhelm Jurgen Homm was arrested Friday at the Uffizi Gallery in Florence. Homm has been charged in Los Angeles with four counts, including conspiracy to commit wire fraud and conspiracy to commit securities fraud.

Homm founded a company that managed nine hedge funds. Authorities say he directed the hedge funds to buy billions of shares of penny stocks and the funds traded them among themselves.

Prosecutors say Homm eventually dumped millions of dollars worth of his own shares, which caused at least $200 million in losses to investors.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.23% up 4.19%  
15 Y Fixed Graph 3.26% dw 3.27%  
30 Y Fixed Jumbo Graph 4.62% dw 4.64%  
5/1 ARM Graph 3.70% up 3.38%  
5/1 Jumbo ARM Graph 4.07% up 4.01%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.29% -- 4.29%  
$50K HELOC Graph 4.04% -- 4.04%  
$30K Loan Graph 5.09% up 5.08%  
$50K Loan Graph 4.52% -- 4.52%  
$75K Loan Graph 4.52% -- 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% -- 2.93%  
36 M Used Graph 3.46% dw 3.47%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 2.99% up 2.98%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% -- 0.35%  
1 yr Graph 0.69% up 0.68%  
5 yr Graph 1.39% -- 1.39%