Businessman Cops To $16M Forex Scam Against Christians

Law360, Los Angeles (January 8, 2013, 5:50 PM EST) -- Georgia businessman Eldon A. Gresham Jr. pled guilty in a Texas federal court Thursday to one count of mail fraud in connection with charges that he cheated Christian investors out of $16 million in a foreign currency exchange scam.

Thursday’s guilty plea marks an end to allegations that the Georgia man orchestrated a multistate Ponzi scheme between January 2004 and June 2009 in which he persuaded members of the Christian community to invest millions of dollars by claiming that his success in currency trading was a...
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