Hedge Funds

Tradewinds manager sends taped confession to investors


In a bizarre videotaped confession captured on DVD and sent to his three top investors, Charles Harris, manager of the fraudulent Tradewinds International hedge funds, admitted that he misappropriated his investors' money and told them he was headed to an undisclosed offshore location to make their money back.

The confession, filmed in the cabin of his yacht, showed a contrite Harris admitting to his scams and vowing to earn investors their money back, according to a complaint from the Securities and Exchange Commission. Harris raised at least $10 million from investors for Tradewinds II, one of the hedge funds, since