los angeles: German hedge fund manager Florian Homm, who had been a fugitive for more than five years, was arrested in Italy on US fraud charges, according to a statement from the US attorney's office in Los Angeles.
Homm, 53, the founder and chief investment officer of Absolute Capital Management Holdings Ltd, is accused of orchestrating a market manipulation scheme to artificially improve the performance of his funds, a fraud that led to at least US$200mil in losses to investors. He was arrested on Friday at the Uffizi Gallery art museum in Florence.
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