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Hedge Fund Manager Who Fled Europe With Cigar Boxes, Boxer Briefs Lined With Half A Million In Cash Charged With Fraud

Florian Homm presumably saw this coming.
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Florian Homm presumably saw this coming.

The fugitive German hedge fund manager who more than five years ago fled the Spanish island of Mallorca with $500,000 hidden in his underwear and luggage was charged with securities and wire fraud. A federal grand jury in Los Angeles, California, charged Florian Homm, 53, in a 10-count indictment, U.S. Attorney Andre Birotte Jr. said today in an e-mailed statement.

Homm was arrested by Italian police on March 8 in Florence, Italy, at the Uffizi Gallery, the world-famous museum that houses Sandro Botticelli’s “Birth of Venus” and Leonardo da Vinci’s “Annunciation.” Homm is accused of defrauding investors in hedge funds he controlled, causing $200 million in losses. He is charged with one count of conspiracy, eight counts of securities fraud, and one count of wire fraud in an indictment filed yesterday, which replaces an earlier criminal complaint, according to the statement.

[Bloomberg, earlier]


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