Kick a Man While He’s Down?

April 25, 2011 James Heinsman Hedge Fund News

 

TerribleTrouble for Trimble?

Former hedge fund manager Mark S. Trimble who has already begun his decade-long stint in jail for money laundering may be facing additional charges.  He was arrested for illegal commodities market trading after he had been barred in 2009 due to money laundering, moving finances from investor funds into his own personal account. Rather than investing money from his cycling coach, he kept the cash for his own use.  This was quite a sum too – a staggering $111,000 – and the coach himself lost out on $40,000.

Now, Trimble is also facing wire and mail fraud charges as well as money laundering “that could land him behind bars for an additional 30 years.”

Untrustworthy Trimble

Clearly, Trimble could not be trusted.  He had told his coach he could make good trades for him, asking for various money transfers which he received (from the innocent man’s wife and son) in “multiple transactions between September 2009 and January 2011.

Just last year, Trimble “pleaded guilty to money laundering, admitting he had transferred $1 million of a client's money into his own account in May 2007 after it had been given to him to invest in various securities,” being forced to pay over $9 million in restitution on being sentenced.

 

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