Hedgie Gets Jail Time For Trimming Trees

Date: Wednesday, August 27, 2008
Author: FINalternatives.com

A San Francisco-based hedge fund manager is being sent to the clink for five days for illegally trimming trees at a state park adjacent to his vacation home.

Last week, a jury found Derek Webb guilty of vandalism, and yesterday the judge ordered Webb to perform 50 hours of community service and to spend five days in jail, according to The Press Democrat.

The tree trimming incident occurred last October. A state parks official caught Webb, chainsaw in hand, hacking away at branches on the south side of Van Damme State Park. Webb owns a sprawling vacation home right next door to the park. At the time, Webb said he was trying to help maintain a heavily used trail.

Ironically, Webb, who in addition to managing money, is also a benefactor for various environmental groups, according to paper.

Prosecutors said that the ruling sends a message that a "person's deeds as a public benefactor does not exempt him from the rule of law."

However, Webb's attorney, Rod Jones, was surprised by the stiff sentence for a misdemeanor. Jones reportedly asked, "Were they in the same courtroom?"

Webb, who runs quantitative hedge fund shop Web Capital Management, will begin his jail sentence on Oct. 7. He is reportedly very involved in supporting charities and community causes.