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FBI Arrests Santa Barbara Investment Firm Principals

FBI Arrests Santa Barbara Investment Firm Principals

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New York, NY-- The owners of Santa Barbara-based Westridge Capital Management Inc. were arrested in New York Wednesday morning.

Paul Greenwood and Stephen Walsh face charges of securities and wire fraud.

The FBI says the men raided funds of $1.3 billion for personal purchases.

Greenwood and Walsh managed millions in investment funds for the state of Iowa, along with various universities and charities.

Story Created: Feb 25, 2009 at 5:00 PM PST

Story Updated: Feb 25, 2009 at 6:14 PM PST

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