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Tag: Commodity Futures Trading Commission

SEC: Binary Options Case Triggers Investor Alert

Is there a double whammy in your MLM future — first being ripped off in a binary-options “program,” only to be ripped off a second time by scammers posing as government agencies and offering purported refunds for a fee? Naturally some MLMers have added binary options to their offerings, with some incredible solicitations and tales being told…

Mar 9, 2016
BULLETIN: Traders Operated ‘The Cartel’; Banks Charged Criminally

Forex traders at four multinational banks — Citicorp, JPMorgan Chase & Co., Barclays PLC and Royal Bank of Scotland plc — formed “The Cartel” and conspired to manipulate the prices of the U.S. dollar and the euro, the U.S. Department of Justice said today. All four banks have been charged criminally in an investigation that…

May 20, 2015
URGENT >> BULLETIN >> MOVING: CFTC Chairman Issues Extraordinary Statement In Response To Congressional Proposal To Cut Agency Budget In Wake Of White-Collar Fraud Epidemic And Expanded Responsibilities

UPDATED 9:05 P.M. EDT (U.S.A.) The white-collar fraud epidemic has become a political football — one that actually uses a football analogy. This is a statement from Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission: “The result of the House bill is to effectively put the interests of Wall Street ahead of those…

Jun 6, 2012
URGENT >> BULLETIN >> MOVING: CFTC Files Actions In Utah, Wyoming, New York And Illinois Against Domestic AND Offshore Firms In Second Phase Of Forex Sweep; 11 Companies Accused Of Illegally Soliciting U.S. Customers

URGENT >> BULLETIN >> MOVING: UPDATED 8:14 P.M. EDT (U.S.A.) The Commodity Futures Trading Commission has gone to federal courts in four different states and simultaneously filed actions against 11 separate companies in the second phase of an enforcement sweep. The firms, some of which conduct business offshore but allegedly use webhosting companies or other…

Sep 8, 2011
CFTC Revokes Registrations Of 2 Texas Firms That Operated Forex Ponzi Scheme Targeted At Elderly Churchgoers And Others In At Least 4 States; Firms Used ‘Charts’ Showing Magnificent Earnings And Cherry-Picked Name Of Warren Buffett For Fraud Pitch

EDITOR’S NOTE: The cases against M25 Investments Inc. (M25) and M37 Investments LLC (M37) include elements that are common in online fraud schemes. For starters, the offers were targeted at senior citizens and people of faith. Moreover, the firms relied on PowerPoint presentations and charts that wowed victims with tales of fantastic earnings. The fraud…

Jun 9, 2011
MIND-BOGGLER: Forex Scammer Who Never Traded Forex Charged In $35 Million Ponzi Scheme; CFTC’s Real-Life Complaint Against Keith F. Simmons And Co-Defendants Reads Like Bizarre Fiction

And people actually are questioning President Obama’s November 2009 decision to create the interagency Financial Fraud Enforcement Task Force when things such as this are going on? An unregistered North Carolina company that churned tens of millions of dollars in a long-running shell game and described itself as a Forex dealer was operated by a…

Feb 17, 2011
TalkGold Ponzi And Criminals’ Forum Deletes ‘Sticky’ Thread On InstaForex; Firm Named Defendant In CFTC Sweep Used Payment Processor Whose Contact Person Is Referenced In International Money-Laundering And Narcotics Case

The TalkGold Ponzi scheme and criminals’ forum has deleted a “sticky” thread reportedly paid for by InstaForex, a dubious company named a defendant in a registration sweep conducted by the U.S. Commodity Futures Trading Commission last month. The PP Blog reported two days ago that InstaForex was using TalkGold to promote a scheme by which…

Feb 10, 2011
SPECIAL REPORT: Forex Firms Named In CFTC Sweep Used Same Offshore Processor As Alleged Imperia Invest Fraud; Name Of Man Linked To ‘Perfect Money’ Appears In Ponzi Forfeiture Complaint In Which Feds Tied Cash To International Narcotics Trade

SPECIAL REPORT: UPDATED 2:27 P.M. ET (U.S.A., FEB. 9) Federal court and web records show that at least three of the 14 purported Forex dealers named defendants in a major sweep of unregistered firms last month by the Commodity Futures Trading Commission advertised that they accepted funds from Perfect Money. Perfect Money is a murky…

Feb 8, 2011
BULLETIN: CFTC Conducts Major Sweep; 14 Forex Firms Accused Of Illegal Solicitation Of U.S. Citizens; Actions Filed In New York, Chicago, D.C. And Kansas City

BULLETIN: The Commodity Futures Trading Commission has gone to federal courts in New York, Chicago, the District of Columbia and Kansas City and simultaneously filed 14 lawsuits against Forex companies to enforce registration requirements and provisions of the Dodd-Frank Act. One of the lawsuits — one filed in the District of Columbia against a Nevada company…

Jan 27, 2011
BULLETIN: Pedro de Sousa, Guillermo Rosario Arrested By FBI; CFTC Lays Out Yet-Another Florida Fraud Case

BULLETIN: Pedro de Sousa and Guillermo Rosario of FX Professional International Solutions Inc. (FXP) have been arrested by the FBI. The Commodity Futures Trading Commission (CFTC) said the men operated a Forex fraud that issued false account statements, falsely claimed no losing months between 2005 and 2008 when they had lost money in 31 of…

Jul 14, 2010
BULLETIN: SEC Halts Alleged $105 Million Ponzi Scheme Operating ‘Offshore’; Daniel Spitzer Charged In Complex International Fraud Case; Several Agencies Credited With Assisting Probe

Saying his offshore Ponzi scheme was on the verge of collapse but still collecting money, the SEC has charged a resident of the U.S. Virgin Islands with fraud. Several international authorities assisted in the probe, the SEC said. Daniel Spitzer, a U.S. citizen who resides in St. Thomas, was charged in the scheme. The SEC…

Jun 28, 2010