Plano Forex Fraudster Admits $4M Investor Rip-Off

PLANO, TX – Kevin G. White, 54, of Plano, Texas, is facing up to two decades behind bars after pleading guilty today to federal mail fraud charges stemming from a brazen $4 million investor scam. The scheme, operated through White’s Revelation Forex Fund (RFF), preyed on unsuspecting individuals hoping to cash in on the foreign exchange market.

According to court documents, White systematically lied to investors to entice them into sinking money into RFF, a fund purportedly engaged in foreign currency trading. He falsely claimed inflated rates of return, fabricated audits, and misrepresented the fund’s operational history – all to build a facade of legitimacy and attract more capital. The operation, based in Plano, raked in over $7.4 million from eager investors.

But the promised returns were a mirage. White wasn’t using investor funds for legitimate trading. Instead, he brazenly diverted approximately $1.8 million for personal use, treating the fund like a personal piggy bank. The scheme ultimately collapsed, leaving investors with a staggering loss of around $4 million. The FBI investigation revealed a pattern of deceit and self-enrichment at the expense of those who trusted White.

U.S. Attorney John M. Bales announced the guilty plea, signaling a commitment to prosecuting financial predators. White entered the plea before U.S. Magistrate Judge Don D. Bush, acknowledging his guilt in connection with the elaborate fraud. While a sentencing date remains to be set, White now faces the very real possibility of spending the next 20 years of his life in federal prison.

The case was spearheaded by the Federal Bureau of Investigation, who painstakingly untangled the web of lies and financial transactions. Assistant U.S. Attorney Andy Williams skillfully prosecuted the case, presenting the evidence that led to White’s confession. This conviction serves as a stark warning to those who attempt to profit from deception in the financial markets.

Grimy Times will continue to follow this case as it moves toward sentencing. The fallout from White’s actions is likely to be felt by his victims for years to come, a grim reminder of the devastating consequences of white-collar crime. The Department of Justice’s commitment to financial crime prosecution remains steadfast, ensuring that those who exploit trust are held accountable.