Forex Trader Gets 15 Years For $37M Ponzi Scheme

Law360, New York (December 22, 2010, 5:36 PM EST) -- A federal judge on Wednesday sentenced foreign currency trader Beau Diamond to more than 15 years in prison for allegedly bilking investors out of more than $37 million.

Judge James S. Moody Jr. of the U.S. District Court for the Middle District of Florida ordered Diamond to serve 186 months in prison and pay more than $23 million in restitution. He will also spend three years on probation and participate in 500 hours of drug treatment, according to the order.

Prosecutors wanted Diamond to spend at...
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