Ex-Commodities Trader Admits To Running $10M Ponzi Scheme

Law360, Chicago (October 18, 2013, 2:44 PM EDT) -- A former Chicago commodities trader pled guilty Friday to orchestrating a $10 million Ponzi scheme in which he misappropriated funds from a bank and other investors to finance his own trades and to pay for family expenses and luxury items.

At a hearing in Illinois federal court, Bradley Schiller, 37, copped to one count of wire fraud stemming from an email he sent to an investor that contained phony commodities account statements.

After accepting Schiller’s guilty plea, U.S. District Judge Elaine E. Bucklo scheduled his sentencing...
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