Westridge Capital Owners Arrested
Stephen Walsh, 64, and Paul Greenwood, 61, Charged with Federal Financial Crimes
On Tuesday, February 25, the two principals of Santa Barbara-based company Westridge Capital Management were arrested for embezzling more than $550 million in investor funds. Stephen Walsh, 64, and Paul Greenwood, 61, were charged with securities fraud, wire fraud, and conspiracy. According to a Securities Exchange Commission complaint, Walsh and Greenwood have, since 1996, been using client money “to furnish lavish and luxurious lifestyles.” Employees at the Carrillo Street office declined to comment.
