Former Forex Trader Inks Plea Deal In $25M Fraud Case

Law360, Chicago (July 12, 2012, 2:42 PM EDT) -- A former foreign currency trader pled guilty Thursday to wire fraud and money laundering in a criminal case in Illinois federal court charging him with running a Ponzi trading scheme that pulled in more than $25 million from 400 investors.

Under a plea agreement with prosecutors, Jeffery Lowrance copped to one count of each offense roughly a year after he was extradited from Peru to face the government's allegations that he ran a fraud scheme between 2004 and 2009, largely while living in Panama, through his...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.