W Financial Group Exec Gets 10 Years For $17M Fraud

Law360, Dallas (January 7, 2013, 9:06 PM EST) -- A Texas federal judge on Monday sentenced a former executive at W Financial Group to 10 years in prison for his role in a $17 million collateral secured debt obligation investment fraud scheme, calling it a “horrible crime” that targeted the elderly, the U.S. Department of Justice announced.

U.S. District Court Judge Barbara M.G. Lynn also ordered Adley Husni Abdulwahab, 37, to pay $13 million in restitution jointly with two other men who sold the CSDOs. Abdulwahab pled guilty in March to one count of securities...
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