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Three Men Indicted for $30 Million Foreign Exchange Fraud Scheme
A federal grand jury in the Southern District of Florida returned an indictment Thursday charging two U.S. citizens and a Dutch national with conducting a foreign exchange trading scheme to steal $30 million from their investor victims. According to court documents, Patrick Gallagher, 44, of Middleborough, Massachusetts, Michael Dion, 49, of Orlando, Florida, and Emade Echadi, 41, a resident of the Netherlands, allegedly devised a scheme in which Dion and Gallagher would solicit victims to invest in their foreign exchange company, Global Forex Management, by promising them large returns based on fabricated prior ... (full story)