Currency Trading Firm To Cough Up $167M Over Ponzi Scheme

Law360, New York (July 19, 2012, 10:59 PM EDT) -- A California federal judge on Thursday ordered former foreign currency trader Jeffrey Lowrance and his firm to pay $34.5 million and $166.8 million, respectively, after regulators accused them of bilking investors through a Ponzi scheme for which Lowrance also faces criminal charges.

U.S. District Judge Edward J. Davila also ordered them to jointly disgorge more than $23 million, including interest, to resolve the U.S. Securities and Exchange Commission's claims that Lowrance had engaged in a scheme from 2007 to 2009 that defrauded investors of some $21...
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Case Information

Case Title

Securities and Exchange Commission v. Lowrance et al


Case Number

5:11-cv-03451

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Edward J. Davila

Date Filed

July 13, 2011

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