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August 03, 2006
Ex-Mayor Indicted for Hedge Fund Fraud
Lee Skierkiewicz has been indicted on 12 counts by a Hamilton County grand jury which alleges the former mayor of Loveland was involved in a $157, 400 theft from 13 clients of the Prima Partners hedge fund. Skierkiewicz, using his position as investment manager at Robert W. Baird & Co., induced 13 of his clients to invest in the hedge fund that he started in October 2000, after leaving R.W. Baird. The ex-mayor could be cooling his heels in the slammer for 25 years if convicted on 10 counts of theft and two counts of aggravated theft. Biz Journals reports:
A press release from Hamilton County Prosecutor Joe Deters indicates Hamilton County's Sheriff opened an investigation after investors complained that Skierkiewicz was unable to provide accurate statements concerning the gain or loss of their investments.
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