Accused CapitalStreet Ponzi Artist Held In Contempt

Law360, New York (May 26, 2010, 12:52 PM EDT) -- CapitalStreet Financial LLC principal Sean F. Mescall, accused by the U.S. Commodity Futures Trading Commission of cheating investors out of $1.3 million in a foreign exchange Ponzi scheme, has been found in civil contempt of court for failing to hand money over to a receiver.

Judge Robert J. Conrad Jr.'s ruling, issued Tuesday in the U.S. District Court for the Western District of North Carolina, referred the matter to federal prosecutors for possible criminal proceedings.

According to the ruling, Mescall, accused by the CFTC of fraudulently...
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