BEAUMONT, TX – Kevin G. White, 55, of Plano, Texas, is headed to federal prison after being sentenced for a brazen foreign currency trading fraud that bilked investors out of millions. White received a 97-month sentence from U.S. District Judge Marcia A. Crone on February 18, 2015, following a guilty plea entered December 11, 2013.
The scheme revolved around Revelation Forex Fund (RFF), a Plano-based operation White used to swindle investors. According to court documents, White systematically lied about RFF’s performance, falsely claiming inflated rates of return, fabricated audits, and a longer operational history than the fund actually possessed. This deception lured investors into handing over a total of $7.4 million.
White didn’t invest the money as promised. Instead, he brazenly diverted approximately $1.8 million of investor funds for personal use – a clear indication of intent to defraud. The damage to investors totaled a staggering $4 million, leaving many financially ruined. The U.S. Attorney’s Office for the Eastern District of Texas, led by U.S. Attorney John M. Bales, pursued the case relentlessly.
The investigation, conducted by the Federal Bureau of Investigation, uncovered a pattern of deliberate misrepresentation and self-enrichment. Assistant U.S. Attorney J. Andrew Williams skillfully prosecuted the case, building a solid foundation of evidence that led to White’s conviction and substantial sentence. White was also ordered to pay $3,926,870 in restitution to the victims – though recovering those funds may prove difficult.
White was ordered to surrender to the Bureau of Prisons on April 6, 2015, to begin serving his nearly eight-year sentence. This case serves as a stark warning to those who prey on investors with false promises and fraudulent schemes. The Grimy Times will continue to follow this case and report on any further developments regarding asset recovery.
This isn’t White’s first brush with trouble, sources indicate. While details remain sealed, whispers within the FBI suggest prior investigations into questionable business dealings. The Grimy Times is digging deeper, and we’ll bring you any further dirt as it surfaces. Consider this a cautionary tale: greed always catches up.
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Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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