A former controller of a Greenwich hedge fund has been arrested on federal charges, accused of embezzling millions of dollars.
Lawrence J. Herzing, 45, of Greenwich, was arrested on Thursday.
Federal authorities said he used his position at Greenwich-based Contrarian Capital Management, L.L.C to wire funds from the hedge fund to accounts that he controlled, federal authorities said.
He is accused of wiring money on 32 occasions between 2004 and 2013, with a total amount of $2.4 million.
Herzing was charged with wire fraud, appeared before U.S. Magistrate Judge William I. Garfinkel in Bridgeport today and was released on a $5.6 million bond.
Of the bond amount, $2.6 million will be secured by Herzing’s Greenwich home, according to federal authorities.
Information on an attorney for Herzing was not immediately available.
