EnlargeRobert Scott Wiens(Photo: COLORADO ATTORNEY GENERAL'S OFFICE)
DENVER BUSINESS JOURNAL - A Lakewood futures trader who ran a Ponzi scheme and operated for a year
as an unlicensed securities agent has paid $260,000 in restitution, Colorado Securities Commission Gerald Rome announced Tuesday.
Robert Scott Wiens, 53, paid $260,000 out of $734,140 court ordered victim restitution and was sentenced to one year in jail and 10 years of probation at a hearing Jan. 15 in Jefferson County Court.
“It is unusual to obtain any restitution in criminal securities fraud cases because, more often than not, the funds are quickly spent by the defendant and cannot be recovered,” Rome said. “I am hopeful that the combination of a year of incarceration followed by having to comply with the terms of probation for 10 years will deter Mr. Wiens from violating the law in the future.”
Wiens was arrested in April on a golf course in Broomfield. He was a futures trader who promoted an investment opportunity in a boutique proprietary trading operation, RXM Holdings Ltd. Wiens, the director of RXM Holdings, represented himself as a specialist in the purchase and sale of U.S. Stock Index future contracts, according to the indictment.
Read more at the Denver Business Journal: http://bit.ly/1S2MIy0
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