Law360, New York (November 04, 2011, 7:11 PM ET) -- Accused Ponzi schemer Jeffery A. Lowrance and his First Capital Savings and Loan Ltd. have been ordered to pay about $4.5 million for allegedly running a fraudulent off-exchange foreign currency trading scheme for which he also faces criminal charges, the U.S. Commodity Futures Trading Commission said Friday.
Lowrance, a Houston man who lived in Panama when he ran the alleged scheme, allegedly bilked investors of about $5 million by claiming he would have successful forex traders invest their money.
Instead he used the money to start...
Alleged First Capital Ponzi Schemer Told To Pay $4.5M
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