This would be Mark D. Lay whose alleged misdeeds cost the Ohio’s Bureau of Workers’ Compensation $215 million.

Of course if the OBWC has known that Lay was "dismissed from two Pittsburgh banks in the late 1980s for unauthorized securities trading" they might never have hired him in the first place...

Dear Employers,

Please conduct a proper background check...for the children!

Your friend,

The Daily Caveat

I guarantee it would have cost less than $215 million.

-- MDT

Labels: Mark Lay, Ohio

Hedge fund (fiend?) Mark D. Lay, who lost a whole bundle of the Ohio Bureau of Worker Compensation's money now has a trial date. Indicted by a federal grand jury just last month, Lay will face the music on September 4th, when he'll get a chance to tell his side of the "I pissed away $216 million of your money" story. And good luck to him. Further details on the trial here.

-- MDT

Labels: Fraud, hedge fund, Mark Lay, MDL Capital Management, Ohio