Good Intentions, Bad Outcomes: How Follo ...

Harold Katz is a former executive of Lancelot Investment Management, the now defunct Chicago-based hedge fund founded by Gregory Bell. Before joining Lancelot, Harold had a successful career working as a certified public accountant (CPA) at some of the country’s most prestigious public accounting firms and privately held corporations. Harold described himself as a team player willing to offer assistance whenever and wherever he was needed. He was a reliable and loyal employee. But that loyalty eventually led Harold to be compliant in one of the largest Ponzi schemes in U.S. history. His refusal to act turned this mild-mannered accountant into a white-collar felon.

Caption: Harold Katz discusses his background.

Hedge funds were Harold’s specialty. Working in the hedge fund environment can be quite unique in comparison to public accounting. Historically, hedge funds are thought to be a highly secretive, very lucrative form of employment where personality fit is key to survival. Harold always considered himself to be an individual who followed authority and attributes these characteristics to his South African upbringing.