United States of America v. Patrick Gallagher and Michael Dion

Date: 03-02-2023

Case Number: 0:21-CR-60103

Judge: Not Available

Court: United States District Court for the Southern District of Florida (Miami-Dade County)

Plaintiff's Attorney: United States Attorney’s Office in Miami

Defendant's Attorney:

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Description: Miami, Forida criminal defense lawyers represented Defendants charged with perpetrating a foreign exchange trading scheme to steal $30 million from their investor victims.

Patrick Gallagher, age 45, of Middleborough, Massachusetts and Michael Dion, age 50, of Orlando, Florida, devised a scheme in which they would solicit victims to invest in their foreign exchange company, Global Forex Management, by promising them large returns based on previous trading results that they had fabricated. They told the victims that their funds would be traded using an online trading platform provided by a co-conspirator’s company, IB Capital. Instead, Gallagher and Dion were working with other co-conspirators in the Netherlands to steal the victim investors’ money. In May 2012, Gallagher and Dion executed their scheme by intentionally creating losing trades for the investors and effectively stole approximately $30 million from their victims. After fabricating the massive trading loss, Gallagher and Dion routed the stolen money through shell companies they had set up all over the world.

Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division and Inspector in Charge Eric Shen of the U.S. Postal Inspection Service’s (USPIS) Criminal Investigations Group made the announcement.

The USPIS investigated the case.

Trial Attorneys Vasanth Sridharan, Tian Huang, and Brittain Shaw of the Criminal Division’s Fraud Section prosecuted the case.

Outcome: Gallagher was sentenced to five years and Dion to four years.

Plaintiff's Experts:

Defendant's Experts:

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