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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 [...]

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 [...]

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 [...]

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 [...]

CMA Capital Management and owner Claudio Aliaga ran a $4.5 million Ponzi scheme, the Commodity Futures Trading Commission claims in Federal Court. It sued Claudio Aliaga and his unregistered company, CMA Capital Management, of Miami Lakes. Aliaga, of Davie, Fla., promised to pay returns of 2 to 3 percent per month, but used new money [...]