The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge Timothy M. Cain of the U.S. District Court for the District of South Carolina entered a Consent Order against Defendant Jody Dupont of Anderson, South Carolina, and an Order of Default Judgment against his company, Open Range Trading LLC, also of Anderson. Neither DuPont nor Open Range…
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The U.S. Commodity Futures Trading Commission (CFTC) has launched True Fraud Stories, a video series about how cunning fraudsters have lured smart investors into fraudulent investment schemes that resulted in the loss of thousands of dollars of their savings. These real-life victims tell their stories hoping others will become educated about financial fraud and avoid…
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The U.S. Commodity Futures Trading Commission (CFTC) obtained judgments against each of the Defendants and Relief Defendants in a fraudulent, Forex scheme involving misappropriation of customer funds and false statements to customers to conceal the fraud. The Orders impose permanent registration and trading bans against the Defendants and order the Defendants to pay over $11.6…
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The Securities and Exchange Commission today charged two men behind a phony day-trading firm with pocketing more than $1.4 million in deposits from hundreds of defrauded investors worldwide. The SEC alleges that Naris Chamroonrat of Bangkok, Thailand, recruited Adam L. Plumer of Las Vegas to help him lure investors to day-trade through an unregistered brokerage…
Read moreThe U.S. Securities and Exchange Commission today announced fraud charges against a San Francisco man and his investment advisory firm accused of pretending to manage millions of dollars in assets, and then stealing money from the first client who invested with them based on their misrepresentations. The SEC alleges that Nicholas M. ('Nick') Mitsakos and…
Read moreRobertson and his business partner Sherman C. Vaughn Jr. diverted nearly $6 million from investors to pay for personal expenses.
Read moreBelgium's Financial Services and Markets Authority (FSMA) today warned the public against the activities of various "boiler rooms" and “recovery rooms” that are contacting Belgian consumers. The number of new additions to the Warning List exceeds a dozen, with the list including companies that exert pressure on customers to buy little-known shares or exotic financial…
Read moreDetectives from the City of London Police this morning arrested the suspected mastermind of Base2Trade, a binary options broker that defrauded its clients of about £2 million. The 38 year-old man, from Chingford, Essex, was arrested at City Airport, as he was returning from Cyprus where he had fled to a few weeks before a…
Read moreFrance's financial markets regulator AMF has just published the results of a survey conducted by the CSA institute, with the findings showing increased interest into Forex and binary options, as well as a decent percentage of investors becoming targets and victims of fraudulent investment schemes. The pool of respondents includes 1,003 French residents, of at…
Read moreThomas Anthony Guerriero and his Oxford City FC Inc. caught selling investors shares in 'the largest publicly traded diversified portfolio of professional sports teams in the world'.
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