Forex Fraudster Ordered To Pay $33M

Law360, New York (January 12, 2007, 12:00 AM EST) -- A man who authorities say swindled investors out of millions of dollars through a foreign currency scam has been ordered to shell out more than $33 million, pushing the total amount of civil sanctions levied over the scheme to almost $150 million.

U.S. District Judge Garr M. King signed off on an order directing Russell Cline, who ran the forex scam through Orion Industries Inc., to pay $16,567,905 in restitution to investors and a civil monetary penalty of $16,567,905.

Cline is currently serving a 97-month sentence...
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