Ex-Refco owner gets decade in prison

A New York judge has given a 10-year prison sentence to the former owner of one of the world's biggest commodities brokerages for fraud that cost investors more than $2 billion.

Tone N. Grant of Chicago was sentenced Thursday in Manhattan federal court. He was convicted of five counts on April 17 in connection with a scheme to defraud investors at Refco Inc.rporated.
Prosecutors say Grant conspired with others to transfer debts to accounts that made it seem as if they were debts owed to Refco.