Former FBI Agent Royer Sentenced to 71 Months in Second Federal Case Over Forex Fraud
DETROIT — The U.S. Attorney's Office for the Eastern District of Michigan announced on October 15 that former FBI agent Jeffrey Royer was sentenced that day to 71 months in federal prison for defrauding multiple investors. U.S. Attorney Jerome F. Gorgon, Jr. announced the sentence together with Jennifer Runyan, Special Agent in Charge of the FBI's Detroit Field Office.
Prosecutors said Royer told investors their money would be used for foreign-currency (forex) and commodity futures trading, but instead diverted some of the funds to personal expenses and falsely assured investors their money was protected from losses. When the investments were in fact losing money, he fabricated earnings statements showing significant gains. Royer had pleaded guilty. In addition to the prison term, the court ordered him to pay $575,999.58 in restitution to his victims and to serve three years of supervised release afterward.
Royer served as an FBI agent from 1996 to 2001. This is his second federal felony conviction: he previously abused his position to steal confidential law-enforcement information about companies under FBI and Securities and Exchange Commission investigation and passed it to a short-selling trader in exchange for the promise of cash and future employment. He was released from federal prison in 2012 after serving a sentence for racketeering conspiracy, securities fraud conspiracy, securities fraud, obstruction of justice and witness tampering. The FBI investigated the current case, which was prosecuted by Assistant U.S. Attorney Andrew J. Yahkind.
Published by GSM · USA (original Chinese edition)
Photo: 位于底特律的西奥多·莱文美国联邦法院大楼，密歇根东区联邦法院所在地（Andrew Jameson 摄，CC BY-SA 3.0，via Wikimedia Commons）
