Fund Stole From Clients, Got Lavished In Lap Dances

The SEC is pawing through the records of the collapsed investment firm Sentinel Management Group and getting lap dance remains all over their hands. Bloomberg reports it looks like SMG’s lead trader Charles Mosley sold their clients what now amount to worthless securities (“wallpaper,” says the guy in charge of unwinding the company), and the brokers he bought them from showered him with tickets to sporting events, limousine rides, and even underwrote his lap dances. Musta been fun while it lasted.

Bankruptcy Sleuths Find Cash in Trader Receipts for Lap Dancers [Bloomberg] (Photo: ClevelandSGS)