Tag: Advanta FX

CFTC
October 12, 2020 BY Steffy Bogdanova

Black Diamond Forex LP, BDF Trading LP and Advanta FX operator to pay over $1.2 million penalty

The US watchdog found that between January 2017 and March 2018 Salerno and his Pennsylvania-based companies solicited individuals on websites such as LinkedIn and Indeed.com and their own websites to become forex traders. The defendants required prospective traders to pay risk deposits and falsely promised to match it with some multiple of company funds in…

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April 26, 2018 BY LeapRate Staff

Civil action filed against Michael Salerno and his companies for LinkedIn-based Retail Forex fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action charging Defendants Michael Salerno of Chadds Ford, Pennsylvania, and his companies Black Diamond Forex LP and BDF Trading LP, both Pennsylvania limited partnerships, and Advanta FX, a Pennsylvania corporation, with fraudulently soliciting members of the public to become foreign currency (forex) proprietary traders and…

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