The former owner of one of the world's biggest commodities brokerages faces 85 years in prison after his conviction on charges of fraud that cost investors more than $1 billion. Tone N. Grant, 62, of Chicago, was convicted of all five counts Thursday in connection with a $2.4 billion scheme to defraud investors at Refco Inc. Sentencing was scheduled for Aug. 7 when, in addition to a prison sentence, Grant could be asked to pay millions in fines.
Former Refco Owner Convicted in $2.4 Billion Fraud Case
The Associated Press
April 18, 2008