Ex Trader currency of payment of $ 33M
A former Currency Trader, defrauding hundreds of investors was for the payment of more than $ 33 million in one of the biggest fines in a single transfer by the Commodity Futures Trading Commission.However, one of the prosecutors in the criminal case against Russell Cline said the order was “a symbolic victory, unfortunately.”
Cline was adopted last February to eight years in prison for fraud in the investment, it has Orion International Inc., the company he founded in 1998 and ran until the end of 2002.
After a coup advocacy in the criminal proceedings, he asked Cline investors on an Internet site, brochures and seminars, then presented wrongly, that their money would be used for trade in foreign currency, a lot of promises to yield more 60 per cent to 200 per cent per annum.
Cline was convicted of mail fraud and money laundering in memory guilty to the USA for the district court of Portland. It was also the payment of $ 14.9 million in surrender.
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