Friday, April 23, 2010
Ex-Lion, money manager stole $3M from Detroit, Pontiac pensions, U.S. says
The U.S. Securities and Exchange Commission brought civil fraud charges today against a private equity firm, an investment advisor and his friend, accusing them of stealing more than $3 million from public pension plans in Detroit and Pontiac.
The lawsuit, filed in U.S. District Court in Detroit, names Roy Dixon Jr. and Onyx Capital Advisers, who were the subjects of Free Press reports last year that raised questions about whether they misrepresented a principal in the firm, among other things. The third defendant is Michael A. Farr, a former Detroit Lions receiver and the son of former Lion and metro Detroit auto dealer Mel Farr...
Free Press: Ex-Lion, money manager stole $3M from Detroit, Pontiac pensions, U.S. says
The lawsuit, filed in U.S. District Court in Detroit, names Roy Dixon Jr. and Onyx Capital Advisers, who were the subjects of Free Press reports last year that raised questions about whether they misrepresented a principal in the firm, among other things. The third defendant is Michael A. Farr, a former Detroit Lions receiver and the son of former Lion and metro Detroit auto dealer Mel Farr...
Free Press: Ex-Lion, money manager stole $3M from Detroit, Pontiac pensions, U.S. says
Permalink posted by markw @ 6:20 AM 
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