THE ASSOCIATED PRESS  

First Posted: April 02, 2011 - 9:04 pm

Last Updated: April 02, 2011 - 9:04 pm 

http://www.greenfieldreporter.com/view/story/f5a3434b710942d8887203dff860a0ab/NV--Investment-Fraud-Conviction/#

RENO, Nev. — A Montana man accused of duping over 1,700 people to give him millions of dollars to invest and trade in the high-risk foreign currency exchange market but instead pocketing the money himself has been convicted by a federal jury in Reno.

Richard Young of Lewistown, Montana, was convicted Wednesday of one count of conspiracy to commit mail and wire fraud, two counts of wire fraud, three counts of money laundering and one count of securities fraud.

In a separate trial Thursday, the jury found the 51-year-old Young must forfeit a bank account containing about $500,000, a towing company and four houses in Lewistown.

Co-defendant William Willard of Bozeman, Montana, pleaded guilty to conspiracy to commit wire fraud in February, and is scheduled to be sentenced June 6 in Reno.