Dallas County Twins Sentenced in Foreign Currency Trading Scheme
Plano, Texas
   
 
More Today's News:
ߦ   After Rioting for Police Body Cams, Liberals Now Say They’re Racist
ߦ   Arrest made in death of Texas police officer killed more 40 years ago
ߦ   Galveston County DA Announces 19th Annual 'Tree of Angels' Ceremony
ߦ   How culture of hazing, bullying in high school sports is only getting worse
ߦ   Judge Sets Date For Ex-Deputy And Her Husband's Murder Trial
ߦ   Three Jailed For League City Parking Lot Robbery
ߦ   Applications Being Accepted For Entry Level Police Officer - City of Santa Fe
ߦ   Angleton Man Sentenced for Multiple Child Pornography Charges
ߦ   Burnet County Sheriff's Office - Inmate/Arrests Summary
ߦ   Conroe Police Dept - Case Tracking Log
ߦ   Critical Missing Person - Roman Quiroz Jr.
ߦ   Detectives Seek Information Regarding Homicide
ߦ   Firearms Smugglers Sentenced
ߦ   Former Attorney and Others Sent to Prison for Money Laundering and Auto Loan Scheme
ߦ   Fourteen with ties to violent YNB Stretch Gang indicted for drug and firearm offenses
ߦ   Galveston County Commissioners Court - Meeting Agenda - Nov 20
ߦ   Jury Convicts & Sentences Man to 5 Years in Animal Cruelty Case
ߦ   Paris Police Dept - Daily Activity/Arrests Summary
ߦ   Sheriff's Chief Administrative Deputy Sentenced on Federal Corruption Charges
ߦ   A&E investigative crime series – THE ELEVEN – comes to a conclusion
ߦ   Baltimore detective shot in head; manhunt underway
ߦ   Burnet County Sheriff's Office - Inmate/Arrests Summary
ߦ   Child Advocates of Fort Bend and its Partner Agencies to Celebrate National Adoption Day, November 17
ߦ   Conservative Republican Mayes Middleton Calls to End Liberal Control in the Texas House and Elect a Conservative Republican Speaker
ߦ   Constable Deputies Arrest Suspected Child Predator
ߦ   Constable Mark Herman Receives 2 awards from North Harris County Residents
ߦ   Constables recover stolen vehicle minutes after it is reported
ߦ   Deputy Injured In Shooting Moved To Rehab Hospital
ߦ   Detectives Seek Information Regarding Homicide
ߦ   'F*** TRUMP' truck sticker photo goes viral; driver speaks with KPRC 2
ߦ   Federal Criminal Complaint Charges Two Men With Witness Tampering
ߦ   Galveston County Sheriff's Office - Daily Bulletin
ߦ   Good Food, Good Family Fun, and Great Competition at METRO Rodeo 2017
ߦ   Help Identify This Guy – Robbery Suspect
ߦ   Honduran Man Sentenced to Prison for Role in MS-13 Gang Initiatiation Murder in Virginia

   Next >>
 
Search Archives:

FOR IMMEDIATE RELEASE                DAVILYN WALSTON

           THURSDAY, MARCH 9, 2017        PUBLIC INFORMATION OFFICER                

http://www.usdoj.gov/usao/txe  

 

Dallas County Twins Sentenced in Foreign Currency Trading Scheme

 

PLANO, Texas – Dallas County twin brothers were sentenced to prison for federal violations in the Eastern District of Texas, announced Acting U.S. Attorney Brit Featherston today.

 

Roger Harvey Wagner, of Grand Prairie, Texas and Rodney Lee Wagner, of Cedar Hill, Texas, each pleaded guilty on July 7, 2016, to conspiracy to commit wire fraud and were sentenced to 48 months in federal prison on Mar. 8, 2017, by U.S. District Judge Amos Mazzant.  The 52-year-old twins were also ordered to pay restitution in the amount of $1,895,318.62.

 

           According to information presented in court, the Wagner brothers perpetrated what amounted to a Ponzi scheme that caused investors to lose over $2.1 million. From February through November 2010, the brothers solicited money from investors to be invested in foreign currency trading.  The brothers promised investors they would be repaid their principal plus a fixed rate of return that would be paid out to them over a series of weeks.  Very little of the invested money was used for foreign currency trading, and prosecutors contended the money received from the latest investors was used to repay earlier investors to keep them lulled. 

 

            "These scams, unfortunately, are in our midst,” said Acting U.S. Attorney Featherston.  “I encourage all potential investors to fully investigate any investment opportunity before handing over hard earned money.  If a deal sounds too good to be true, as the saying goes...it usually is!  These two individuals may not wear a mask over their face and may not carry a gun, but they are as much a thief as those that do, and they deserve the just punishment handed down by the court."
                       

This case was investigated by the Texas State Securities Board and the Federal Bureau of Investigation and was prosecuted by Assistant U.S. Attorneys Andy Williams and Tom Gibson. 

Post a comment
Name/Nickname:
(required)
Email Address: (must be a valid address)
(will not be published or shared)
Comments: (plain text only)
Printer Friendly Format  Printer Friendly Format    Send to a Friend  Send to a Friend    RSS Feed  RSS Feed
  Facebook   Share link on Twitter Tweet  
© 1999-2017 The Police News. All rights reserved.