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

3:09-cv-00407

Court

Texas Northern

Nature of Suit

Securities/Commodities

Judge

Ed Kinkeade

Date Filed

March 4, 2009

Government Agencies

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