Florida hedge fund’s ex-CFO pleads guilty in $3M embezzlement case
Theodore Woo, who is accused of misappropriating money from the fund for his own personal uses, has pleaded guilty to one count of securities fraud.
Theodore Woo, who is accused of misappropriating money from the fund for his own personal uses, has pleaded guilty to one count of securities fraud.
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Why it matters
This is a case of individual criminal misconduct involving a relatively small amount of money within a single hedge fund, with no broader market or regulatory implications for credit professionals.
Sources
CFO.com
Florida hedge fund’s ex-CFO pleads guilty in $3M embezzlement case
Theodore Woo, who is accused of misappropriating money from the fund for his own personal uses, has pleaded guilty to one count of securities fraud.
CFO Dive
Ex-hedge fund CFO pleads guilty to $3M embezzlement scheme
The former finance chief used fake invoices and put unauthorized personal expenses on credit cards to steal money from his employer, prosecutors said.