“Corporate cloning” - a practice involving unauthorized businesses misusing the data of legitimate ones, has become widespread across the Forex industry. The latest Forex broker to be a target of this illicit practice is FXOpen. The broker has just published an announcement on its website against such abuse of the FXOpen® trademark, as well as…
Read moreThe website of PrivateFX, pledging to be the new “home” for former clients of Forex Trend, was launched on Thursday.
Read moreNY businesses Safety Capital Management and GNS Capital, operating as FOREXNPOWER, fraudulently solicited more than $1.5 million in an OTC Forex scheme.
Read moreRon Earl McCullough and David Christopher Mayhew will have to pay $1,223,388.43 in restitution and a $2,486,619.87 civil monetary penalty for operating a fraudulent Forex scheme.
Read moreRussia's Forex organization CRFIN warns scammers pretending to be its representatives offer former clients of the defunct company to get their money back.
Read moreCrown Currency Exchange collapsed in 2010 owing 12,500 customers a total of £20 million. Three key personnel have now been jailed for fraud, whilst the owner of the firm took his own life during the three month trial during which the court heard that his wife had used £900,000 of customer money to buy a luxury house
Read moreThe Court of Appeal upheld a 2-year prison sentence against Raj Von Badlo who helped Alex Hope defraud investors of more than £5.5 million.
Read moreFederal Court enters emergency order freezing Defendants’ assets and protection of books and records, fraudster was never registered with the CFTC...
Read moreThe CFTC has issued a complaint alleging that Florida resident Dorian Garcia returned nearly $2.1 million to investors in a manner akin to a Ponzi scheme and misappropriated approximately $2.5 million of investor funds
Read morePhillip Boakes, who defrauded investors of more than £3.5 million, was today sentenced at Southwark Crown Court to 10 years in jail. Boakes, who ran CurrencyTrader Ltd, a company engaged in Forex spread betting, lured investments using false instruments and taking deposits without having the proper authorization. In running a typical Ponzi scheme, Boakes funded…
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