BOSTON, Nov. 15 (UPI) -- Massachusetts regulators are searching for tens of millions of dollars that may have been stolen by a financial manager and used to buy a radio station.
Last week Brad Bleidt allegedly tried to kill himself after sending a tape to regulators on which he claimed he stole tens of millions of dollars from clients of his Boston-based financial management firm, Allocation Plus Asset Management, the Boston Herald reported Monday.
"We're going to do everything we can to recover the money," said Secretary of State William Galvin.
By Sunday, regulators had several banks and money managers, including Fleet Bank (now Bank of America) and Fidelity Investments, identified as entities which may hold some of Bleidt's assets.
Galvin, whose office has suspended Bleidt's license as an investment advisor, said that firms Bleidt may have been registered with could be held liable for "failure to supervise" Bleidt and forced to repay millions of dollars that Bleidt has said he stole to buy radio station WBIX-AM in January, Galvin said.
