A federal judge in Orlando on Thursday sentenced two former executives of a now-defunct Longwood investment brokerage to nine years in prison for their role in a currency trading scheme that bilked investors out of more than $17 million.
Chief Judge Anne C. Conway sentenced Philip Leon of Altamonte Springs and John G. Wilkins of Chuluota on charges of wire fraud and conspiracy to commit wire fraud in connection with the scheme by Altamont Global Partners LLC and its affiliated funds. They were also ordered to pay $17 million in restitution to more than 200 investors.
Leon pleaded guilty in November; Wilkins did so in August. They both have agreed to forfeit artwork and funds totaling $4 million found in various trading accounts.
Last month, in a related civil case, Leon and another former Altamont Global partner – Paul Rangel of Apopka – were ordered to pay a combined $8 million in fines and other penalties to settle civil fraud charges stemming from the currency-trading scheme.
Rangel has denied any wrongdoing or knowledge of the scheme, according to court records.
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