Ex-Refco Directors To Forfeit $39M To Fraud Victims

Law360, New York (May 7, 2010, 5:03 PM EDT) -- Two former board members of Refco Inc. have agreed to forfeit $39 million that the federal government traced to fraud and money laundering at the defunct brokerage giant, the Office of the U.S. Attorney for the Southern District of New York said Friday.

Former directors Edwin L. Cox, 63, and William L. Graham, 61, agreed to forfeit the money to settle civil forfeiture claims brought by the federal government Thursday in the U.S. District Court for the Southern District of New York.

Cox and Graham haven't...
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