Futures Pool Founder Settles Suits Over $11M Scheme

Law360, New York (May 27, 2010, 2:14 PM EDT) -- Alleged fraudster John M. Donnelly has agreed to pay more than $3.9 million to settle the U.S. Securities and Exchange Commission's claims that he ran an $11 million index futures trading pool Ponzi scheme, following a November sentencing that puts him behind bars for seven and a half years.

Donnelly will also turn over proceeds from the sale of a 65-acre Charlottesville, Va., property and vehicles including a BMW, a Hummer and a collection of motorcycles, according to a final judgment filed Monday in the U.S....
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