U.S. District Court Orders Texas Man Willie Lee Cloud, Jr. a

[admin]

U.S. District Court Orders Texas Man Willie Lee Cloud, Jr. and his Company, C & R Financial, Inc., to Pay More than $5.35 Million in Restitution and a Civil Monetary Penalty for Operating a Foreign Currency Ponzi Scheme
Tue, 29 Mar 2011 14:54:00 -0500
The CFTC announced that a federal court entered a default judgment order requiring defendants Willie L. Cloud, Jr. and his company, C & R Financial, Inc., both of Houston, Texas, to pay restitution of $280,170.66 and a $5,070,000 million civil monetary penalty for operating an off-exchange foreign currency Ponzi scheme.

http://www.cftc.gov/PressRoom/PressRele ... 12-11.html