Mar. 4--Two high-flying investment managers accused of stealing $553 million from clients, including $114 million from the University of Pittsburgh and Carnegie Mellon University, need some cash.

Attorneys for Paul Greenwood and Stephen Walsh, the principals of Westridge Capital Management Inc., asked a federal judge in New York on Tuesday for permission to get money to pay for bills such as $35,000 for orthodontists, $62,000 for private school tuition, $52,000 for landscaping and $33,000 for upkeep of homes.

U.S. District Court Judge George B. Daniels, who froze the assets of Westridge Capital, its affiliates and the two men, refused to release a dime pending a detailed accounting.

The FBI arrested Greenwood, 61, and Walsh 64, on charges of defrauding investors out of hundreds of millions of dollars. They are each free on $7 million bond.

Authorities claim the men, former owners of the New York Islanders hockey team, diverted investment money to underwrite their lavish lifestyles that included the purchase of multimillion-dollar homes in toney neighborhoods, rare books, horses, automobiles and at least one $80,000 Steiff teddy bear.

Greenwood's plea to the court for cash reflected the cost of that lifestyle.

In court petitions, his attorneys noted that Greenwood was the sole support of his wife and two daughters, ages 10 and 13.

Greenwood sought nearly $1 million for the annual cost of operating his horse farm, a business that houses more than five dozen show horses.

The lawyers asked the court to release money so Greenwood would be able to pay $118,000 a year in household costs such as food, clothing, utilities and travel and $280,000 for property taxes on two homes.

Attorneys for Walsh suggested their client had scaled back his lifestyle. He wanted only $138,000 a year for a budget that included $21,000 for property taxes and $5,400 for psychiatric care and medicine.

Walsh's attorney declined to comment. Greenwood's lawyer did not return a call for comment.

Attorneys for the Securities and Exchange Commission and the Commodity Futures Trading Commission argued against the release of any funds.

Lawyers for the Commodity Futures Training Commission argued that Greenwood and Walsh's assets are the product of the bogus trading scheme and won't cover the cost of their clients' losses. They said many of the personal expenses listed by the money managers amounted to "improper luxuries."

They said Greenwood's request for nearly $1 million for his horse farm amounted to funneling funds from cheated investors into the horse business.