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Defendant used three websites to solicit customers and misappropriated approximately $280,000 of customer funds.
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against Helmut H. Weber d/b/a Weber Capital Management (WCM) of Scottsdale, Arizona, charging Weber with operating a fraudulent off-exchange foreign currency (forex) scheme.
The CFTC complaint, filed in the U.S. [...]

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it charged Willie L. Cloud, Jr. and his investment company, C & R Financial, Inc., both of Houston, Texas, with operating a Ponzi scheme in connection with foreign currency (forex) trading.
The CFTC’s complaint, filed on March 4, 2010, alleges that, since at [...]

With all the 1:10 leverage turmoil happening lately we shouldn’t forget that NFA/CFTC are the only retail forex watchdogs in the US. From time to time the agencies perform well in uncovering forex frauds and in shutting down problematic businesses.
A few days ago NFA cracked on quite a few CTAs which lost millions of clients [...]

More than 700 people stand to lose more than R200 million in investments after an investigation into the southern Cape-based Minne Trading investment scheme found it to be operating illegally.
The Registrar of Banks appointed auditing firm Deloitte to determine whether the company and two individuals, Graeme and Caroline Minne, were conducting the business of a [...]

Federal Court Freezes Assets of Minnesota Residents Trevor Cook and Patrick Kiley and their Oxford and Universal Companies, Charged by the CFTC with Defrauding Investors of Tens of Millions of Dollars in Foreign Currency Scheme
Customer funds misappropriated to develop a hotel and casino in Panama and purchase seven luxury cars.
Washington, DC – The U.S. Commodity [...]

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained a consent order against Michael Kourmolis, of Brooklyn, N.Y., permanently prohibiting him from engaging in any activity related to trading any commodity interests, including soliciting funds, registering with the CFTC and trading on behalf of others or himself.
The court’s order, [...]

In recent times the hedge fund industry has received negative press, whether its problems with access to funds or a Maddof style ponzi scheme. Investors have had to learn to adapt to today’s climate, and in effect have leant toward asset management, achieving transparency and, in many cases, superior liquidity. Previously hedge funds were for [...]

Court appoints a receiver to indentify assets and funds owed customers
Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) today announced it obtained an emergency court order freezing assets held by defendants M25 Investments, Inc., M37 Investments, LLC, Scott P. Kear, Sr., Jeffrey L. Lyon, all of Waxahachie, Tex., and David G. Seaman, of [...]

A new British foreign exchange broker urged peers to help raise billions of pounds for charity as it vowed to donate part of each transaction to fight AIDS, tuberculosis and malaria.

The eToro online forex trading platform, known for its simple and visual approach to forex, now teams up with James Dicks forex signals and Autochartist [...]

A month ago I published details of the alleged Ponzi scheme operated by Beau Diamond who appeared to have lost over $38 millions of investors money and then disappeared.
Reuters reports that yesterday he was finally arrested and charged.
A Florida man has been arrested on charges he ran a $37 million Ponzi scheme that guaranteed customers [...]