CRW Managment Ray White Ponzi Scheme Fraud Case

CRW Management

CRW Managment Ray White Case

Another recent fraud case popped up today. Ray White, who runs CRW Management has been accused by the CFTC of taking over $10.9M from over 250 investors over the past few years. Below please find an excerpt on this recent case of fraud.
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Hedge fund manager Ray M. White and his company, CRW Management, LP, have been charged today by the Commodity Futures Trading Commission of swindling at least $10.9 million from over 250 investors through an alleged Ponzi scheme.

The complaint alleges that the Mansfield, Texas-based White, told investors their funds would be traded in the forex market and the strategy would reap returns of up to 416 percent annually.

Instead, White and CRW pocketed millions of dollars to fund a rampant spending spree which included homes, cars, Dallas Stars season tickets and the sponsorship of a drag racing team. source

Read about other recent cases of hedge fund industry fraud and review resources on hedge fund regulation and compliance within our Hedge Fund Regulation Corner.

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