Kirk Wright, recently convicted of a massive fraud, and head of Chapter 11 Debtor International Management Associates (discussed in previous posts here, here and here) committed suicide on Saturday, prior to being sentenced. From the AJC –
Wright, 37, was found dead Saturday in the cell, where he was being held for federal authorities while awaiting sentencing. A jury convicted him Wednesday of all 47 counts of mail fraud, securities fraud and money laundering stemming from a scam he ran through his firm, International Management Associates…
But prosecutors convinced jurors that Wright had concocted an elaborate scam to have investors fund his lavish lifestyle, which included spending $50,000 on a Rolex watch, $200,000 on a Lamborghini and $500,000 on a wedding.
Wright’s firm attracted deep-pocketed clients, many of them family friends and NFL players, who sank more than $155 million into International Management between 2001 and 2005. But in 2006, his clients learned their money was gone and Wright had been lying to them …
Former Denver Broncos player Steve Atwater grew suspicious in 2005, and he and other NFL player-clients called in their investments. Wright fled after his checks to them bounced.
Authorities arrested Wright in May 2006 as he sipped cocktails at poolside of the Ritz-Carlton Hotel in Miami. In his room, they found fake identification and credit cards as well as I.D.-making equipment. While a fugitive, Wright had bought a $40,000 Mercedes and a seaside condominium in Florida.
He had been held without bond since his arrest. Meanwhile, authorities auctioned his belongings for $1.9 million. His assets included luxury homes in Marietta and in downtown Atlanta near the Georgia Aquarium, a 2005 $115,000 Bentley Continental and $110,000 2003 Aston Martin Vanguard.