Convicted Ponzi Scheme Operator Ordered to Pay Big Fine

The penalties continue to mount against a convicted Ponzi scheme operator -- who once had ties to Caddo Parish. The US Commodity Futures Trading Commission says it has obtained federal court consent orders resolving its remaining claims against Ray White, his son Christopher, and their companies -- CRW Management and Hurricane Motorsports, all from Mansfield, Texas. They've been ordered to pay over 19-million dollars in restitution and penalties. This is on top of a nearly $400-thousand dollar restitution order against Christopher White and Hurricane Motorsports levied in late September. On top of that, in May of this year, Ray White was sentenced to 10 years in federal prison after pleading guilty to one count of commodities fraud. The Whites were accused of scamming almost $12-million dollars from more the 400-investors in a Ponzi scheme involving supposed foreign exchange trading that never happened. A couple of years ago, Ray White attempted to buy Red River Raceway -- the dragstrip in Gilliam.  That deal fell through when he was not able to produce the required cash by the agreed-upon date.