the republic logo

Trader who bilked investors out of $9 million pleads guilty in Los Angeles to federal charges


LOS ANGELES — The architect of a scam that bilked investors in Southern California and Canada out of at least $9 million has pleaded guilty to federal charges in Los Angeles.

Prosecutors say Gordon Driver of Henderson, Nevada entered pleas Thursday to wire fraud and also to making false statements to the SEC during an investigation.

Driver acknowledged that he falsely told investors in his Nevada-based companies that his commodities futures trading produced profits of up to 5 percent a week. In reality, his unprofitable trades lost much of the money.

Driver now faces up to 25 years in federal prison.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.