• 25 Feb 2009 at 1:05 PM

Westgate Head Cuffed

By Equity Private

Bloomberg reports that Westgate Capital founder James Nicholson has been taken into custody by FBI agents, for allegedly dabbling in some securities fraud as early as 2004. Westgate’s only down month– working under the assumption they’re not messing with us– was back in September 2001, when they returned -0.64%, which a reader suggests was out of necessity to be seen as patriotic.
Westgate Strategic Growth Fund [PDF]

Comments (12)

  1. 1
    Posted by guest | February 25, 2009 at 1:11 PM

    way back?

  2. 2
    Posted by guest | February 25, 2009 at 1:13 PM

    at what point do people just give up on the financial services industry? i wouldn’t touch a non-FDIC insured account for anything at this point.

  3. 3
    Posted by guest | February 25, 2009 at 1:16 PM

    So that is Westgate and Westridge both arrested today? So Westbrook and Westhill must be next.

  4. 4
    Posted by guest | February 25, 2009 at 1:17 PM

    Too much water, not enough gates.

  5. 5
    Posted by guest | February 25, 2009 at 1:18 PM

    If there is any justice he’ll become Skakel’s bitch at the Connecticut bighouse.
    Have they developed an ETF yet that shorts enrollment at Greenwich Academy ?

  6. 6
    Posted by guest | February 25, 2009 at 1:21 PM

    Why is it that some small fish is cuffed, but the likes of Madoff and Stanford are not?
    It couldn’t possibly be political connections, could it? I mean, the US politicians are not corrupt in any way, are they?

  7. 7
    Posted by guest | February 25, 2009 at 1:24 PM

    So, stay away from Wests in the East?

  8. 8
    Posted by guest | February 25, 2009 at 1:34 PM

    #6, everyone but Maxine and Nancy. They’re too dumb to be corrupt.

  9. 9
    Posted by guest | February 25, 2009 at 1:35 PM

    good were on the W’s – If my fund began with X I’d be worried

  10. 10
    Posted by guest | February 25, 2009 at 1:36 PM

    @8: Right, because Waxman is a genius, followed closely (from behind) by Frank.

  11. 11
    Posted by Novice | February 25, 2009 at 3:14 PM

    @8 Waxman is bald. Of course he’s a genius.

  12. 12
    Posted by guest | February 26, 2009 at 5:10 AM

    @ 6 “Why is it that some small fish is cuffed, but the likes of Madoff and Stanford are not?”
    You haven’t heard of the “too big to jail” dictum?

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