Forex Trader Gets 14 Years For $31M Investment Fraud

Law360, Chicago (November 15, 2012, 2:44 PM EST) -- A purported foreign currency trader received a 14-year prison sentence from an Illinois federal judge Thursday for running a Ponzi trading scheme that prosecutors say fraudulently raked in $31 million from more than 400 investors and caused roughly $17.7 million in losses.

Jeffery Alan Lowrance, 51, appeared in orange jail garb before U.S. District Judge Charles R. Norgle Sr. to be sentenced for the single counts of wire fraud and money laundering to which he pled guilty in July. In his plea deal, he admitted to...
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