Prosecutors Seek 17 Years For Forex Trader

Law360, New York (November 17, 2010, 4:18 PM EST) -- Prosecutors want foreign currency trader Beau Diamond to serve at least 17 years in prison for bilking investors out of more than $37 million in a Ponzi scheme.

In a sentencing memorandum filed Tuesday, prosecutors asked the U.S. District Court for the Middle District of Florida to sentence Diamond to between 210 and 262 months in prison, saying he deserves severe punishment for his sophisticated scam and disregard for his victims.

“Charles Ponzi himself would have been proud of Diamond's efforts,” prosecutors said in their memorandum,...
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