Kevin White Pleads Guilty to Mail Fraud
Kevin G. White, a 54-year old Plano, Texas resident, has pled guilty to federal violations in the Eastern District of Texas in connection with his Revelation Forex Fund scheme, according to the U.S. Attorney’s office.
White pled guilty to committing mail fraud in relation to a commodity trading fraud scheme before U.S. Magistrate Judge Don D. Bush.
Kevin White operated Revelation Forex Fund (RFF), a fund that conducted foreign exchange currency trading. RFF had its office in Plano, Texas. In order to get investors to purchase a partnership interest in RFF, White falsely bumped up the past rate of return on investment for RFF.
White misstated that RFF returns had been audited and the length of time RFF had actually operated.
RFF received a total investment of over $7.4 million. White admitted that he used about $1.8 million of investor funds for non-investment purposes. The loss to investors was approximately $4 million.
If convicted White will face up to 20 years in federal prison. A sentencing date has yet to be fixed. As White has pled guilty, the judge is expected to take this into consideration when he is sentenced.
The Peiffer Wolf securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting investors the victims with the recovery of their investment losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no obligation evaluation of their recovery options, at 585-310-5140.