A Tennessee man has pleaded guilty to one count of wire fraud for his role in a commodities investment scheme, according to the Justice Department Tuesday.
Commodity trader Donald Wray Rodgers operated an unregistered trading pool, Three Bridges Trading Fund, through which he lied to investors about the money earned in the pool. He also provided false fund performance statements and inflated investment returns.
Ultimately, Rodgers caused nearly 50 investors to lose over $2,000,000, said the DOJ. He faces a maximum penalty of 20 years in federal prison and a $250,000 fine.
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