News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Pilgrim Baxter bosses face fraud charges

Mutual fund probe claims more victims in executive ranks

Two mutual fund executives from Pilgrim, Baxter & Associates, a US asset manager, have become the first to be charged with fraud as part of the probe into mutual fund trading abuses.

US regulators have charged Gary Pilgrim and Harold Baxter with securities fraud for their roles in allowing market timing trades at their mutual funds. Until last week Baxter was chairman and Pilgrim was president of the firm, which is owned by Old Mutual.

WSJ Logo