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Watson’s business entities ordered to pay disgorgement of $21 million, and Texas resident Daniel J. Petroski ordered to pay more than $550,000 for his role in the scheme
In a related criminal matter, Watson was sentenced to 20 years in prison on February 10, 2012Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained federal court consent orders resolving its remaining claims against defendants Robert D. Watson and Daniel J. Petroski, both of Houston, Texas, PrivateFX Global One Ltd., SA, and 36 Holdings Ltd. Global One, a corporation formed in Panama, and 36 Holdings are under the control of a court-appointed receiver, Thomas L. Taylor III.
Federal Court Orders Texas Resident Robert D. Watson to Pay $31 Million for Defrauding Customers, Misappropriating Millions of Dollars, and Providing Fictitious Records in Forex Scheme
Seeded on Fri Feb 17, 2012 2:33 PM EST
Article Source: U.S. Commodity Futures Trading Commission (CFTC)- Enjoy this article? Help vote it up the 'Vine.
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One consent order requires Watson, Global One, and 36 Holdings jointly and severally to pay $21 million in disgorgement and orders Watson to pay a $10 million civil monetary penalty. The other consent order requires Petroski to pay $414,723 in disgorgement and a $140,000 civil monetary penalty. The consent orders also require the defendants to give up their rights to funds and other assets held by the receiver.
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