Ex-Refco president begins prison sentence

03 Nov 2008

Former Refco president Tone Grant has begun his 10 year sentence at a prison camp in Duluth, Minnesota for defrauding investors of $2.4bn in an eight year accounting scheme.

Grant was...

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[Refco]
[Tone Grant]
[Duluth]
[Phil Bennett]
[prison]
[fraud]

“The introduction of these contracts to trading represents a new stage in developing the Russian market in fixed income instruments as in essence futures on federal bonds are derivatives on long-term interest rates.”

Evgeny Serdyukov, director of F&O at RTS

Ex-Refco president begins prison sentence

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