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Fund Manager Paul Greenwood Pleads Guilty to Fraud

Hedge fund manager Paul Greenwood, the general partner of WG Trading Co., pleaded guilty to six charges including conspiracy and securities fraud and is cooperating with the U.S. against co-defendant Steven Walsh.

Greenwood and Walsh, his fellow manager of WG Trading and WG Investors, were indicted last July on charges that they conspired to defraud investors of $554 million. The U.S. said the scheme stretched from 1996 until their arrest in February