Tuesday, October 26, 2021
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Twin brothers from Texas guilty in $2.7M financial fraud

🕐 1 min read

SHERMAN, Texas (AP) — Twin businessmen from the Dallas area face up to five-year prison terms in a more than $2.5 million currency scam promising 200 percent returns over a few months.

Roger Wagner and Rodney Wagner pleaded guilty in Sherman to conspiracy to commit wire fraud. The 52-year-old brothers from Grand Prairie were charged in what prosecutors say was a scheme during 2010.

Investigators say the twins solicited money from investors for foreign currency trading. The Wagner brothers said they had a system that that could generate large returns, as much as 200 percent, over a period of 20 to 40 weeks. Investors instead lost about $2.7 million.

The brothers were indicted in 2015 and pleaded guilty Wednesday.

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