Tag: fraud

September 22, 2016 BY Mike Fox

CFTC charges All City Investments which showed fraudulent 2,675% growth in FX trading

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Jamal Y. Vance and All City Investments, LLC (All City), charging Defendants with solicitation fraud in connection with off-exchange Forex transactions and with failure to register as Commodity Trading Advisors (CTAs) with the…

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August 17, 2016 BY Mike Fox

CFTC charges Las Vegas-based TradeMasters USA, LLC for fraudulently soliciting $155K

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed a civil enforcement action in the U.S. District Court for the District of Nevada charging Mirko “Mick” Schacke of Antioch, California, and his company, TradeMasters USA, LLC (https://www.trademastersusa.com), of Las Vegas, Nevada (the Defendants) with fraud and failing to register with the CFTC, as…

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August 05, 2016 BY Mike Fox

CFTC fines and bans Georgia man over $900k for fraudulent trading pool

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court Consent Order imposing a permanent injunction against Defendants Hendrik A. Van Beuningen and his company, DeBrink Trading Fund I, LLC, and requiring them to pay a $430,000 civil monetary penalty and restitution of $480,000 to defrauded pool participants. The Court’s Order against the Defendants…

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July 14, 2016 BY Mike Fox

CFTC orders Michigan Introducing Broker fraudster to pay over $7 million

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Respondents Atlantas Group, Inc. (Atlantas) and Edmund Hysni for committing solicitation fraud in connection with options on futures contracts trading on the Chicago Board of Trade and the Commodity Exchange, Inc., and against Hysni for willfully making material…

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June 14, 2016 BY Mike Fox

Belize financial regulator catches TRADE24 forging regulation

Another entity this week has been caught by Belize regulator the International Financial Services Commission of Belize (IFSC) forging and falsely representing regulation. Last week, a Forex EA claiming regulation was called out in a public warning. To begin this week it has come to the notice of the IFSC that an entity calling itself ‘TRADE24 Investments Ltd.’ is…

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June 03, 2016 BY Mike Fox

SEC charges NYC Forex trader who lied on track record, hid millions in losses

The Securities and Exchange Commission today charged a New York City-based trader with defrauding investors out of millions of dollars by misrepresenting her investment track record, the profitability of her investments, and her use of investor funds. The SEC alleges that Haena Park and her firm - referred to as "Phaetra" and/or "Argenta" - touted her supposedly…

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March 24, 2016 BY Mike Fox

NFA bars Chicago woman from membership for accepting funds while providing false statements to conceal forex trading losses

National Futures Association (NFA) today announced it has permanently barred Chicago, Ill., sole proprietor commodity trading advisor (CTA) Tina Mozhayski, DBA RF INTL, from membership and from acting as a principal of an NFA Member. The Decision, issued by an NFA Hearing Panel, is based on a Complaint authorized by NFA's Business Conduct Committee on March 18, 2015. The…

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March 16, 2016 BY Mike Fox

London based Forex broker XTB.com adds new director

Today we learned from official filings that London based Forex brokerage XTB Limited, the operator of XTB.com has appointed a new director in Marcus James Ford, an FX industry veteran of many years. This brings the total count of current directors to three at XTB Limited. Mr. Ford most recently served as a director at OANDA Europe from…

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