CFTC alleges that Daniel K. Steele's fake firm solicited at least $1.97 million from at least 24 pool participants to participate in three forex pools
Read moreOfficial press release is below; any traders or partners should avoid business with unregulated entities and only do business with firms that are properly regulated in your jurisdiction...
Read moreAustralia's national financial regulator has obtained a court order against unlicensed FX firm which promised "quick executions, low spreads, and intelligent customer-service", but withheld profits from clients. With the firm now closed by ASIC, the investigation continues.
Read moreThe new scheme raised more than $2 million from at least 90 customers who wanted to invest in off-exchange foreign currency
Read moreIn the latest development in 25 year-old FX fraudster Alex Hope's two year contretemps with Britain's financial authorities, the FCA commenced its trial today against the high-profile bogus trader who bilked investors out of £5.6 million Flamboyant fraudster Alex Hope may be brought to justice shortly, as the two year long legal wranglings which he…
Read moreQueen Shoals Consultants, Gary D. Martin, and Brenda K. Martin Charged by CFTC for misappropriating client funds to convicted Ponzi scheme operator and extorting bogus referral fees The U.S. Commodity Futures Trading Commission (CFTC) has today announced that it has obtained a federal court supplemental consent Order requiring Defendants Gary D. Martin and Brenda K.…
Read moreOhio Federal Court Rules against Defendants in Connection with Foreign Currency Ponzi Scheme The U.S. Commodity Futures Trading Commission (CFTC) announced on Friday March 21, 2014 that Judge David D. Dowd Jr. of the U.S. District Court for the Northern District of Ohio granted summary judgment and issued a Memorandum Opinion, a Judgment Entry, and a…
Read moreThe defendant operated through My Forex Planet Inc, Wal Capital S.A. and Top Global Capital Inc A civil enforcement action has been filed by the US Commodity Futures Trading Commission (CFTC) against Melody Nganthuy Phan and companies associated with her – My Forex Planet Inc, Wal Capital S.A. and Top Global Capital for conducting a…
Read moreVeruus Wealth Management registration suspended, Arista LLC and Abdul Walji are next According to a CFTC press release the regulator has revoked registration of Colorado-based forex company Veruus Wealth Management LLC as it confirmed that the company engaged in civil theft and conversion of investments in a managed forex trading account. A Denver court has…
Read moreFraudsters solicited $2.3 million for forex trading from 11 individuals The CFTC has issued a press release detailing their latest enforcement action against Ron Earl McCullough and David Christopher Mayhew. The complaint filed by the regulator alleges that both have fraudulently solicited about $2.3 million from 11 investors and have subsequently misappropriated $1.6 million of…
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