Finalternatives reports that the mother of accused hedge fund fraudster Anthony Klatch says her son is not to blame for allegedly defrauding investors of more than $2.3 million. Charmaine Maynard, who flew to Tampa, Fla., last week to be with her son, who is facing extradition to Alabama, told the Wilkes-Barre (Pa.) Times Leader that Klatch's bipolar disorder is responsible.
Maynard, who said that bipolar disorder runs in the family, tried and failed to get her son to seek help when she first noticed his symptoms three years ago, she said. Maynard testified as to her diagnosis at his detention hearing last week, where she said he finally acknowledged he had a problem.
Klatch and his partner, Timothy Sullivan, are accused of lying to investors in their TASK Capital Partners. The duo allegedly told investors that the fund, which they founded in 2009, had already been in business for 12 years. Their prospectuses were also filled with other "material misrepresentations and material misleading omissions," the indictment alleges.
Read more at http://www.finalternatives.com/node/17659
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