Ex-Futures Trader Gets 5 Years For $2M Fraud

Law360, New York (June 30, 2011, 5:58 PM EDT) -- An Illinois federal judge on Wednesday sentenced a former Chicago floor trader to five years in prison and ordered him to pay more than $2 million in restitution for cheating customers out of profits from the sale of Treasury futures.

U.S. District Judge Samuel Der-Yeghiayan ordered David G. Sklena to begin his sentence on Oct. 31 and to immediately pay $2,048,787 to 45 of his co-defendant's customers, who were allegedly deprived of profits when Sklena bought their futures at an artificially low price and sold them...
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