A German hedge fund founder convicted in his home country of running a Ponzi scheme faces U.S. charges along with an accomplice over frauds that cost investors more than $300 million, the U.S. Department of Justice said on Thursday. K1 Group founder Helmut Kiener, a 53-year-old trained psychologist, was indicted on six counts of wire and bank fraud and three counts of money laundering over alleged schemes to defraud Bear Stearns Cos, Barclays Plc and BNP Paribas SA. Co-defendant John Tausche, a 61-year-old resident of Blowing Rock, North Carolina, was charged with one count each of bank fraud and money laundering, prosecutors said. More on Reuters here.
