Tag: leaprate forex fraud watch

December 04, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch – Abdul Sultan Walji and Reniero Francisco to pay over $22 Million

Registered commodity pool operator Arista LLC misappropriated $4.125 million from 39 investors The US Commodity Futures trading Commission (CFTC) has issued a press release informing the public about a federal court order that seeks over $22 million in restitution and fines from Abdul Sultan Walji and Reniero Francisco. They acted as principals for the registered…

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December 04, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch – Canada’s RCMP goes after InvestTechFX, Rony Spektor and Alan Zer

A massive FX brokerage imposter being investigated by Canadian authorities after operating for more than 5 years The Financial Crimes unit of the Royal Canadian Mounted Police (RCMP) has uncovered a massive scheme that allegedly extracted millions of dollars from investors. The website InvestTechFX has been uncovered to impose as an FX broker while all of the deposited…

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November 26, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch - Feisal Sharif to pay over $3 million

More than 50 people scammed through a commodity pool in Connecticut The Commodity Futures Trading Association (CFTC) has announced today that it has obtained a court order against Feisal Sharif, operating through his commodity pool First Financial LLC in Branford, Connecticut. The restitution pronounced by the court amounts to $2.2 million plus $900,000 civil monetary…

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November 14, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch – $1.75 mln fine for Thomas B. Breen

Sentenced to prison alongside his associates Robert J. Cannone and Francis Franco The US regulator CFTC has issued a statement announcing that it it obtained a court order against the principal of National Equity Holdings Thomas B. Breen for $1.75 mln, related to his fraudulent activities of solicitation, misappropriation of the firm’s customers’ funds and…

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November 07, 2013 BY Gerald Segal

AlphaMetrix has $700 mln frozen

The CFTC states that the company misappropriated funds belonging to commodity pools and sent false or misleading account statements AlphaMetrix, which was ironically marketed to investors as a safe-house against the likes of Bernie Madoff, finds itself in some hot waters. Based in Chicago, the US company provides customers with opportunities to invest in futures…

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November 06, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch - Donald R. Wilson and DRW Investments

DRW Investments filed a pre-emptive lawsuit against the US regulator The CFTC filed a civil lawsuit against Donald R. Wilson and his company DRW Investments, LLC. Charges are for unlawful manipulation of a 3-month interest rate swap futures contract in a period of at least 8 months – between January and August 2011. According to…

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