Judge OK's Pony Care in Money Manager Case

An arrested money manager's legal woes won't cost his wife's ponies proper care, a judge has decided.
    
U.S. District Judge George Daniels last week unfroze an $84,000 account to allow for the 90 show ponies' upkeep at Paul and Robin Greenwood's 250-acre farm in rural New York.
    
Daniels is hearing civil cases federal regulators have brought against Paul Greenwood, who also faces criminal charges of defrauding his investment clients.
    
The judge also granted permission for Robin Greenwood to sell the animals eventually, with the approval of the receiver who controls the couple's personal and business assets.
    
"We are going to be listing the farm for sale and probably selling the majority of the ponies,'' Robin Greenwood's lawyer, Daniel Ruzumna, said after a court hearing Friday in Manhattan.
    
Paul Greenwood, 61, is fighting criminal and civil allegations that he and his business partner stole almost a half-billion dollars from clients, spending more than $160 million on themselves and their families.
    
The Greenwoods had bought the Grand Central Farm on the Southeast/North Salem border for more than $4 million several years ago. They have been running it as a breeding facility with a show ring.
    
Greenwood was the unpaid town supervisor of North Salem, 45 miles north of New York City on the Connecticut border.
    
He resigned March 5, shortly after he and his business partner, Stephen Walsh, were arrested on charges including securities fraud. They also face lawsuits filed by the Securities and Exchange Commission and the Commodity Futures Trading Commission.
    
Greenwood is free on $7 million bond. Lawyers for him and Walsh have declined to comment.
    
The judge froze the assets of the Greenwoods, Walsh and Walsh's ex-wife in February and appointed a receiver to oversee them. Robin Greenwood and Walsh's ex-wife, Janet, are not accused of any wrongdoing, but government lawyers say they have assets stemming from the alleged fraud.