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All Ponzi schemers are disgusting thieves, but some are even worse than that: Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained more than $6.2 million in disgorgement and civil monetary penalties in a federal court summary judgment against defendants Marvin Cooper and his company, Billion Coupons, Inc. (BCI), [...]

Federal Court Freezes Assets of Oklahoma Man Jeremiah C. Yancy and His Company, Longbranch Group International LLC Yancy and Longbranch charged with operating a million dollar forex Ponzi scheme and misappropriating customer funds. Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained an emergency court order freezing assets held [...]

CFTC Charges Growth Capital Management LLC and Felon Robert Milhailovich, Sr., with Fraudulently Soliciting More than $30 Million to Trade Commodity Futures and Forex Son charged with making false statements to the CFTC for failing to disclose father’s role. Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) charged Robert Mihailovich, Sr., and Growth [...]

FSA once again showed that it is the sanest regulators out there and also the quickest to act. It managed to successfully halt an unauthorized Forex scheme early in its life and to recoup most of the invested money. On another note: how did an accounting firm think that it could get away with such scheme in [...]

We’ve all seen the flashy flickering forex websites  promising excellent returns, hundreds or even thousands of percents a year and most of us told ourselves that there is no way that someone is buying that. But in fact there are such people and they are more than you can imagine. Many people see these sites [...]

I just received the following email and it seems forex marketing artists are stepping up in their quest to appear legit. The email arrived from one ‘Troy Weston’, a fake name no doubt, and apparently was mailed by @forex.com address. I just confirmed with Gain that it of course wasn’t them who sent this mail, [...]

Saxo bank is looking to enjoy its award from the “Profit and Loss” magazine for having the best re-labelling platform for 2010. This should provide Saxo bank with robustness for their white label business; Saxo bank currently has over 120 white label clients. Saxo Bank has won the award for providing the best while label [...]

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) charged FX Professional International Solutions, Inc. (FXP) (a.k.a. FX Professional Solutions, LLC), of Orlando, Fla. and its principals, Pedro de Sousa (a.k.a. Pedroiz J. Sanz), also of Orlando, and Guillermo Rosario (a.k.a. Guillermo Rosario-Colon) of Coral Gables, Fla., with issuing false account statements to customers [...]

The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze against a purported fund manager based in the U.S. Virgin Islands who perpetrated a $105 million Ponzi scheme against investors. The SEC alleges that Daniel Spitzer, a resident of St. Thomas, used several entities and sales agents to misrepresent to investors [...]

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of an enforcement action charging Highlands Capital Management, LP, based in San Francisco, Calif., and its principal Glenn Kane Jackson of Tiburon, Calif., with operating a fraudulent off-exchange foreign currency (forex) scheme. Specifically, the CFTC complaint charges the defendants, in connection [...]