The receiver who took control of the assets of former North Salem Supervisor Paul Greenwood after he was charged with securities fraud has asked the court for permission to distribute another $40 million to his investors.
Robb Evans & Associates distributed almost $800 million to investors, mostly pension funds, colleges and other institutional investors, in April 2011. The money invested in WG Trading Company and WG Trading Investors is being distributed based on a formula of money put in less withdrawals.
Greenwood, who has since moved to North Carolina, pleaded guilty to six counts of securities fraud and related charges in July 2010 and faces up to 85 years in prison. He is cooperating with prosecutors against his former business partner, Stephen Walsh, who has pleaded not guilty.