Tag Archives: forex ponzi
CFTC Obtains Default Judgment against Juvenal Machado and Invers Forex For Forex Scam
8
2012
Court orders defendants to pay more than $4 million in customer restitution and penalty and permanently bars them from the commodities industry Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Marcia G. Cook, of …
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US regulators have taken oath to decapitate any firm running Ponzi Schemes after the Madoff disaster. A Maryland court has found Borrowing Station LLC guilty of fraud, misappropriation and registration violations in relation to margin FX. The CFTC was called …
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CFTC settles $85 million forex fraud against Peter Son and orders PassThrough Investments, Stephen Brantley and Dwayne Bryant Dawson to pay over $1.1 Million in Sanctions
26
2012
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court supplemental consent order requiring defendants Peter Son (Son) of Danville, Calif., and his companies, SNC Asset Management, Inc., and SNC Investments, Inc., to pay a $5 …
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Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that on April 19, 2012, Judge Richard W. Story of the U.S. District Court for the Northern District of Georgia, entered an emergency order freezing the assets of …
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Court orders Shawon McClung to pay over $6 million for running a forex ponzi scheme
19
2012
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that the U.S. District Court for the District of Colorado entered an order against defendants Flint-McClung Capital LLC (FMC), of Englewood, Colo., and Shawon McClung, formerly of Denver, …
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This case just gets more and more complicated. Crown Forex is an extremely complicated case of a Forex brokerage that turned out to be a ponzi scam. We’ve already reported today about another uncovered forex ponzi brokerage (One World Capital) …
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One World Capital was apparently a forex ponzi – owners John Walsh and Charles Martin get 12-17 years in prison
3
2012
This one was pretty much below the radar although One World Capital was probably the biggest US forex brokerage that turned out to be a scam. NFA’s capital requirements which gradually rose from almost nothing to $20+ million since 2008 …
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Although there were quite a few red flags about this brokerage available all over the internet (forexpeacearmy for instance and others) and even CFTC suing them for accepting American clients I didn’t take much notice. This is because I don’t think that CFTC should be allowed to impose its requirements on foreign brokers and also that there are bad reviews (sometimes very bad) about the most decent brokers – it’s just the nature of this business.
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Federal Court Orders Forex Dealer Jacob Juma Omukwe to Pay over $2.6 Million for Forex Scheme
23
2011
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) obtained a supplemental consent order requiring defendants Jacob Juma Omukwe and his companies, JadeFX, LTD (JadeFX) and Jade Investments Group, LLC (Jade), jointly and severally to pay over $2.6 million in restitution and civil monetary penalties to settle a CFTC anti-fraud enforcement action filed in March 2011.
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According to a federal criminal Complaint filed in U.S. District Court in the Middle District of Florida, David R. Lewalski, 47, formerly of Gainesville, FL, and his co-conspirators allegedly solicited money about $30 million from hundreds of investors based on false statements that Lewalski could earn the investors up to 10 percent interest per month by trading on the foreign currency (FOREX) market.
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