Trader, Event Promoter Accused Of $4M Investment Scam

Law360, New York (October 5, 2011, 6:38 PM EDT) -- Commodities trader, event promoter, ordained minister and former University of Pennsylvania basketball star Tyrone L. Gilliams Jr. was arrested in Philadelphia on Wednesday and will face charges in New York for allegedly running a $4 million investment fraud scheme.

Gilliams, 44, solicited the $4 million from an investor to trade in U.S. Treasury Strips — securities derived from Treasury bonds — but misappropriated at least $2 million, according to the complaint filed Sept. 28 and unsealed Wednesday.

A large chunk of the misappropriated money was used...
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