Convicted Ponzi Schemer White Hit For $19M

Law360, New York (October 11, 2011, 7:04 PM EDT) -- The U.S. Commodity Futures Trading Commission said Tuesday that a Texas federal judge had ordered CRW Management LP and its founder, Ponzi scheme convict Ray M. White, to pay more than $19 million to the government and to victims of his foreign currency fraud.

White and CRW must pay more than $9.5 million in disgorgement to victims, plus interest, and White himself is to pay a $9.5 million civil penalty, according to the CFTC and the court's order, which was entered on Oct. 5.

White —...
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Case Information

Case Title

Securities and Exchange Commission v. White et al

Case Number



Texas Northern

Nature of Suit



Ed Kinkeade

Date Filed

March 4, 2009

Government Agencies

UK Financial Services

UK Financial Services

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