The Fall Of Alan Bond

Once-prominent money manager found guilty of defrauding clients

Florida in June of last year on money laundering charges, while, during that same summer, McClendon was convicted in an Atlanta federal court of 28 counts of mail fraud.

The Rise and Fall of Alan Bond

  • 1961: Born in New York.
  • 1987: Graduates from Harvard Graduate School of Business;lands job as an institutional sales associate at Goldman Sachs & Co.
  • 1989-91: Works as a portfolio manager, W.R. Lazard & Co.;becomes a regular on Wall Street Week with Louis Rukeyser.
  • October 1991: Becomes CEO of Bond Procope Capital Management; signs on NBA players’ pension fund as a client.
  • End of 1993: Has 30 clients and manages about $278 million.
  • Early 1998: SEC starts investigating Bond’s activities.
  • April 1999: Bond’s assets under management peak at $640 million, according to SEC filings.
  • December 1999: Bond is indicted and charged with taking$6.9 million in a kickback scheme.
  • End of 2000: Bond’s assets under management plunge to about$123 million.
  • August 2001: Bond is indicted again on a separate charge forexecuting more than $50 million in unprofitable trades.

SOURCE: WWW.WSJ.COM, May 17, 2002

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