Forex Firm Owner Gets 20 Years For $30M Ponzi Scheme

Law360, New York (November 18, 2011, 9:09 PM EST) -- A Florida federal judge on Thursday sentenced the founder of foreign currency trading company Botfly LLC to 20 years in prison for operating a $30 million Ponzi scheme.

In addition to the prison time, U.S. District Judge James D. Whittemore ordered three years of probation for David R. Lewalski, who pled guilty in July to operating the Ponzi scheme that lured investors with promises of monthly returns as high as 10 percent.

Judge Whittemore also ordered Lewalski to forfeit more than $29.8 million and numerous computers...
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Case Information

Case Title

Magistrate judge case number: 


Case Number

8:10-cr-00501

Court

Florida Middle

Nature of Suit

Date Filed

November 30, 2010

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