Today In Handcuffs: Helmut Kiener Come On Down!

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German police have arrested the founder of K1 Group, Helmut Kiener, in connection with an investigation into allegations of fraud at his hedge fund, a local prosecutor said.
European and U.S. authorities are investigating allegations that K1 embezzled millions of dollars from several global banks, including J.P. Morgan Chase & Co., Barclays PLC, BNP Paribas SA and Societe Generale SA.

On Wednesday police searched the homes and offices of both Mr. Kiener and a second suspect, whom prosecutors haven't named, seizing computers and business records, according to prosecutors and a member of Mr. Kiener's staff.
Heidi Queren, an employee at Mr. Kiener's Aschaffenburg office, said her employer didn't appear for work on Thursday.

K1's Kiener Arrested In Fraud Probe [WSJ]

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