WG Trading Partner Pleads Guilty To Major Fraud

Law360, New York (July 28, 2010, 4:46 PM EDT) -- A former WG Trading Co. executive pled guilty Wednesday to charges that he helped run a fraudulent commodities trading and investment advisory scheme, bilking investors of hundreds of millions of dollars and taking as much as $75 million for his own use.

The executive, Paul Greenwood, pleaded guilty to all six charges before Judge Miriam Goldman Cedarbaum of the U.S. District Court for the Southern District of New York. He could face a prison sentence of up to 85 years, as well as millions in fines,...
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