CRE Capital, Owner To Pay $26M In Forex Ponzi Suit

Law360, New York (December 7, 2010, 7:55 PM EST) -- Federal officials on Tuesday announced that a federal judge had ordered CRE Capital Corp. and its owner to shell out $25.7 million in penalties and restitution over an alleged foreign exchange Ponzi scheme.

The U.S. Commodity Futures Trading Commission said Judge Richard W. Story of the Northern District of Georgia ordered CRE Capital and owner and President James G. Ossie to fork over a total of $25.7 million in civil penalties and restitution.

That amount includes $5.7 million in restitution that CRE Capital must pay, although...
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