Former Forex Trader Inks Plea Deal In $25M Fraud Case

Law360, Chicago (July 12, 2012, 2:42 PM ET) -- A former foreign currency trader pled guilty Thursday to wire fraud and money laundering in a criminal case in Illinois federal court charging him with running a Ponzi trading scheme that pulled in more than $25 million from 400 investors.

Under a plea agreement with prosecutors, Jeffery Lowrance copped to one count of each offense roughly a year after he was extradited from Peru to face the government's allegations that he ran a fraud scheme between 2004 and 2009, largely while living in Panama, through his...
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