Two Men Sentenced in $30M Foreign Exchange Fraud Scheme
From justice.gov
A Massachusetts man and a Florida man were sentenced for their roles in perpetrating a foreign exchange trading scheme to steal $30 million from their investor victims. Patrick Gallagher, 45, of Middleborough, Massachusetts, was sentenced to five years in prison on Feb. 21 and Michael Dion, 50, of Orlando, Florida, was sentenced to four years and seven months in prison today. According to court documents, Gallagher and Dion devised a scheme in which they would solicit victims to invest in their foreign exchange company, Global Forex Management, by promising them large returns based on previous trading results that ...
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