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Man gets 14 years in prison for trading fraud
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CHICAGO (AP) — A federal judge in Chicago has sentenced a U.S. citizen to 14-years in prison for operating a foreign currency trading fraud while living in Panama. Fifty-one-year-old Jeffery Lowrance was sentenced Thursday by U.S. District Judge Charles Norgle. He also was ordered to pay almost $18 million in restitution. Prosecutors say Lowrance fraudulently obtained $31 million from 452 investors by claiming to buy and sell foreign currencies. He operated his scheme from Panama between 2006 and 2009. Prosecutors say Lowrance made Ponzi-type payments to some investors but most of them lost money — about $18 million total. Some investors lost their life savings. Lowrance fled to Peru in 2009 but was arrested there last year and extradited to Chicago. He pleaded guilty to wire fraud and money laundering in July. 
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Today is Sunday, May 26, the 146th day of 2013. There are 219 days left in the year.
1863 -- 150 years ago: The information called for in yesterday's Argus, in relation to thechild abandoned in Moline, by its mother two years ago, was furnished us last evening.The child was found by a Swede and has been kindly cared for.
1888 -- 125 years ago: The annual review and inspection of the Rock Island volunteerfire department took place today, and there will be a firemen's ball tonight.
1913 -- 100 years ago: Captain H.F. Young, former Mississippi river pilot, and T.W.Chapman left Rock Island today for Alaska to enter river service there.
1938 -- 75 years ago: Poppies were blooming today at the headquarters of the Rock Islandunit of the American Legion auxiliary at the Y.M.C.A. as the little red memorial flowers, which the people of Rock Island will wear in honor of veterans.
1963 -- 50 years ago: One hundred and fifty of the best show horses in Illinois and Iowaare expected to compete tomorrow for some $500 in trophies, ribbons and prize money inthe first major horse show of the season.
1988 -- 25 years ago: Moline Public Hospital presented blue ribbons to the winnersof a recent poster contest, held in conjunction with National Hospital Week. Utilizingthe theme of "You're Our Specialty," the following were grand prize winners: MindyBenson, Moline; Thao Dang, Moline; Gared Laux, Moline; John Murphy, Rock Island;Justin Pulford and Bennie Jo Starkey, Moline.
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