Federal Court in Georgia Orders over $10 Million in Sanctions against Defendant Eldon A. Gresham in Forex Ponzi Scheme
Relief defendants Werner H. Beiersdoerfer and Interveston Wines, LLC ordered to pay an additional $5 million in relief
Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) obtained federal court summary judgment orders resolving its claims against defendant Eldon A. Gresham (aka Eldon A. Gresham, Jr.) doing business as The Gresham Company (Gresham) of Peachtree City, Ga., and relief defendants Werner H. Beiersdoerfer (Beiersdoefer) and his company, Interveston Wines, LLC (Interveston), both of Calera, Ala.
The claims arose from a CFTC complaint filed July 2, 2009, in the U.S. District Court for the Northern District of Georgia that charged Gresham with operating a multi-million dollar off-exchange foreign currency (forex) Ponzi scheme (see CFTC Press Release 5674-09, July 9, 2009). Beiersdoerfer and Interveston were named in the lawsuit as relief defendants because they allegedly received funds as a result of Gresham’s conduct to which they had no legitimate entitlement.