Bad Language Leads to Arrest of Asset Management CEO

Posted by on Jan 18, 2011 in Uncategorized | Comments(0)

Remember when I blogged about Vincent McCrudden, an investment manager from New York? If you forgot, you can see it here. Back then, I analyzed his situation, tongue-in-cheek, and decided that he needed to have his mouth washed out with soap. Apparently, the Federal government took a different view.
According to this article in Investment News, Asset manager charged with threatening Finra and SEC officials: Report – Investment News, Mr. McCrudden created an “execution list” of people in the government for whom he wanted the home addresses and other contact information. As they say in the airports, “all statements made will be taken seriously.” As a result, Mr. McCrudden was arrested at Newark airport when he returned from Singapore (a nation whose government, by the way, is not known for its tolerance or sense of humor.)
According to the article, Mr. McCrudden offered a reward on his website for the information about the government officials. He also made the statement that “there were too many” for him alone, whatever that might mean. The government saw it as a threat and he was arrested. For those of you following along at home, this would be disclosable on his U-4 if he is registered. On the other hand, simply being charged with a felony, unless it is somehow related to investments, does not require disclosure on his ADV, if he has one.
Although this arrest occurred before the recent horrific events in Tucson, it appears that the government acted properly to make sure that its officials are not in danger. I don’t know if Mr. McCrudden is roaming the streets as of this writing, but he would be wise to keep a low profile.
I’m thinking, however, that updating his filings is pretty far back on his mind right now.
That’s the view of one lawyer from Jupiter, Palm Beach County, Florida. I’m Marc Dobin.
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