Forex Trader Sentenced To 20 Years For Fraud Scheme

Law360, Washington (February 14, 2012, 5:00 PM EST) -- A Texas federal judge sentenced a foreign exchange trader to 20 years in federal prison for allegedly defrauding investors out of tens of millions of dollars, the U.S. Department of Justice said Friday.

U.S. District Judge Gray H. Miller gave Robert David Watson, 50, the maximum prison sentence outlined in a plea agreement reached in June 2011. Watson pled guilty to one count of securities fraud after he and his forex companies PrivateFX Global One Ltd. SA and 36 Holdings Ltd. bilked investors out of about...
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