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The Securities and Exchange Commission sued a Mansfield man and his son Wednesday, alleging they ran an $11 million Ponzi scheme to fund the son's racing career and to buy real estate.
The civil case alleges that starting in April 2007, Ray White, 50, used his company, CRW Management LP, to persuade 250 people in 22 states to give him money. White allegedly told investors that he achieved high returns – as much as 30 percent – by investing in overnight foreign currency exchanges, the suit said.
Houston Lawyers , Florida Banks
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S.E.C. Report Details Lapses i
