7th Circ. Affirms Forex Execs' Sentences For $17M Fraud

Law360, New York (July 23, 2013, 6:11 PM EDT) -- The Seventh Circuit on Tuesday affirmed the prison terms imposed on two former principals of a defunct foreign currency trading firm for operating a $17 million fraud scheme, finding a trial judge properly sentenced Charles Martin to 17 years and John Walsh to 12 1/2 years.

The appeals court said U.S. District Judge Virginia Kendall correctly applied a sentencing enhancement based on a finding that both former One World Capital Group LLC principals were an officer or director of a futures commission merchant and correctly increased...
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