Kiener Confesses to Using Ponzi-Scheme Tactics to Save K1

``K1 Group founder Helmut Kiener, accused of running a 345 million-euro ($500 million) Ponzi scheme, told a court he manipulated account statements and lacked the "courage" to shut his hedge fund after he realized the scale of the losses... "I trusted that I could make up losses by investing just more and more new money..." Barclays Plc (BARC) and BNP Paribas (BNP) SA lost a combined 223 million euros and private investors lost about 122 million euros in the scam, prosecutors said. The testimony was a change for Kiener, whose first lawyer had consistently said his client had done nothing wrong. ''