Pilgrim Baxter and Associates Ltd.

Gary Pilgrim and Harry Baxter are the co-founders of money management firm Pilgrim Baxter and Associates Ltd. Pilgrim Baxter agreed to pay fines of $80 million each to settle regulators complaints that they allowed and profited from abusive fund trading. Pilgrim, 64 and Baxter, 58 were also barred from the money management industry for life. [BUSINESS JOURNAL]

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