Former Commodities Trader Charged In $10M Ponzi Scheme

Law360, New York (August 29, 2013, 2:55 PM EDT) -- A former Chicago commodities trader was charged Wednesday with running a $10 million Ponzi scheme in which he diverted funds from a bank and other investors to his own personal commodities futures trading activity and used the money to cover family expenses and luxury items.

Prosecutors said Bradley Schiller, 37, purported to be a successful trader, raising more than $10 million between 2007 and 2012 from various sources in connection with his futures trading, but lied to investors about the profitability of his trading.

Schiller also...
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