Former Islanders co-owner sentenced to 10 years for billion dollar ponzi scheme

see International Financial Law Prof Blog 



The U.S. Commodity Futures Trading Commission (CFTC)  announced that Paul Greenwood operated a $1.3 billion investment scam where he and a co-Defendant misappropriated at least $554 million from commodity pool participants, was sentenced to 10 years in federal prison for charges related to his participation in the scam. Earlier, on July 28, 2010, Greenwood pled guilty to a six-count criminal indictment on the charges, including a commodities fraud charge in violation of the Commodity Exchange Act (CEA). see International Financial Law Prof Blog