Skip to content
Subscriber Only

Tone Grant, Refco Ex-President Serving 10 Years, Dies

Former Refco Group Ltd. President Tone Grant, a decorated U.S. Marine Corps veteran who was serving a 10-year prison sentence for defrauding investors of $2.4 billion in an eight-year accounting scheme, has died. He was 70.

Grant died Jan. 18 at the federal medical center in Rochester, Minnesota, according to Chris Burke, a spokesman for the U.S. Bureau of Prisons. Burke declined to comment on the cause of death. Grant was scheduled to be released from prison in July 2017.