Ex-Refco CFO charged over billion-dollar fraud
Foreign exchange company embroiled in scheme to defraud investors
Robert C. Trosten, the former chief financial officer of foreign exchange
company Refco, has been charged with
defrauding investors in a scheme which resulted in a loss of more than $1bn
In a US District Court in Manhattan ,Trosten was also charged with assisting
Phillip R. Bennett, formerly Refco’s chief executive officer, in allegedly
hiding hundreds of millions of dollars of debt owed to Refco by a company
controlled by Bennett.
Trosten denies any wrongdoing.
‘Robert Trosten denies that he intentionally engaged in any fraud and looks
forward to establishing his innocence at trial,’ his lawyer,
Robert Morvillo, was
reported as saying.