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It was one of my first stories on Forex Magnates, I indicated that David Smith from notorious Olint (an alleged forex Ponzi scheme which bilked investors out of almost $1 billion) was linked to I Trade, a former US forex broker. A few days ago United States District Court indicted David Smith with four counts of [...]

As Francesc points out today, Trevor Crook Cook, who is charged with bilking investors out of at least $190 millions, says he filed a claim against Crown Forex, S.A. for $67 million in investor funds that he claims were being held by Crown Forex, S.A. Crown Forex, S.A., however, is insolvent. All this might makes [...]

The formerly high-flying trader says he bilked more than 1,000 investors of at least $190 million in a currency fraud – Star Tribune reports. Minneapolis money manager Trevor Cook, who rose from sports bookie in college to multimillion-dollar commodities trader, choked back tears as he admitted Tuesday in federal court to running an international Ponzi [...]

The following post appeared all over the web and on multiple forums couple of days ago and was probably posted by the same person as the text is identical in all cases. I’m not usually republishing these things because you never know whether or not this is another fake broker review or if it’s real, [...]

NFA has just ordered Kingz Capital Management Corporation (KCM) to permanently withdraw from NFA membership and permanently barred its Principal David Michael Stephen Krywenky. It appears that KCM and Krywenky were involved in the the high profile Twin Cities / Crown Forex S.A. alleged scam scandal. Apparently Twin Cities’ Trevor Cook managed investor funds in [...]

Quick recap: To those who don’t remember: Crown Forex S.A. was a forex broker based in Switzerland. On 29/05/2009 FINMA closed Crown Forex S.A because of potential liquidity problems. FINMA is investigating the company and its executives. A month later we learned that there was another scandal associated with this broker – a Twin Cities fund manager [...]

To those who don’t remember: Crown Forex S.A. was a forex broker based in Switzerland. On 29/05/2009 FINMA closed Crown Forex S.A because of potential liquidity problems. FINMA is investigating the company and its executives. A month later we learned that there was another scandal associated with this broker – a Twin Cities fund manager [...]

Just like the Phoenix rising from the ashes so might be  the owners of Crown Forex, which is now in liquidation process. There has been much rumour going on that the owner of Crown Forex might also be the owner the relatively newly established FX Pulp. FX Pulp is registered in Cyprus and splashes a [...]

Just like it was indicated, Crown Forex is finished. In the following statement sent to Crown Forex’s clients, FINMA announces the final liquidation of the Swiss broker and asks clients for their balance statements and any claims they might have towards Crown. All this despite  Crown’s claims for innocence. Dear clients, The Swiss Financial Market Supervisory [...]