CPO settles with CFTC over fraud charges
Posted byFelix Shipkevich on Jul 14, 2011 in Commodity Pool Operator, Enforcement Actions, Featured, Restricted | 0 comments
The CFTC has simultaneously filed and settled charges against Robert S. Moss, an unregistered commodity pool operator (“CPO”) accused of commodity pool solicitation fraud and misappropriation. The North Carolina resident has been ordered to pay over $2 million in restitution and...UPDATED: CFTC fines forex scammer Ortiz $1.2 million
Posted byElan Mendel on Jul 12, 2011 in CFTC, Enforcement Actions, Featured, Forex, Regulators, Restricted, Social Media | 0 comments
UPDATE The CFTC has published a press release and court order confirming that it has obtained a default judgement against the defendant. According to the release, “The order finds that, since May 2008, Goyep and Royal Returns, acting through Ortiz, fraudulently solicited 11 customers by guaranteeing...CFTC charges unregistered IB and CPO with misrepresentation, misappropriation
Posted byFelix Shipkevich on Jul 11, 2011 in CFTC, Commodity Pool Operator, Enforcement Actions, Featured, Futures Commission Merchant, Introducing Broker, Restricted, Social Media | 0 comments
The CFTC has charged unregistered introducing broker (“IB”) CIS Commodities LLC (CIS) and its founder Allen Nicholas Ward, with misappropriation and misrepresentation, and unregistered commodity pool operator (“CPO”) TransGlobal Investments LLC (TransGlobal) and its president Chales...Real estate scammer allegedly prey to forex fraud
Posted byElan Mendel on Jul 7, 2011 in CFTC, Commodity Trading Advisor, Enforcement Actions, Featured, Forex, Regulators, Restricted, Social Media | 0 comments
The CFTC has filed charges against Mark Rice and his company, Financial Robotics (FinRob), for over-the-counter foreign exchange (“forex”) solicitation fraud and misrepresentation. A federal judge in Texas has frozen the defendants’ assets, prohibited the destruction of books and records, and ordered...Air traffic controllers and trader charged with forex fraud
Posted byElan Mendel on Jul 4, 2011 in CFTC, Enforcement Actions, Featured, Forex, Restricted, Social Media | 0 comments
The CFTC announced that it has filed charges against Louis Giddens, Anthony Dutton, and Michael Gomez for running a fraudulent off-exchange foreign currency (“forex”) scheme. The defendants allegedly took approximately $1.4 million from investors, and misappropriated almost all of it. Giddens and...CFTC charges Nebraska CPO Reisinger with commodity pool fraud
Posted byElan Mendel on Jul 3, 2011 in CFTC, Commodity Pool Operator, Enforcement Actions, Featured, Restricted, Social Media | 0 comments
The CFTC has charged Grace Elizabeth Reisinger and ROF Consulting with operating a fraudulent commodity pool scheme. The Nebraska resident and her firm operated commodity pool NCCN, LLC, where they bought and sold exchange traded commodity futures and options (“ETFs”) and other financial...Forex ponzi schemer has assets frozen by Federal Court
Posted byElan Mendel on Jul 2, 2011 in CFTC, Commodity Pool Operator, Enforcement Actions, Featured, Restricted, Social Media | 0 comments
The CFTC announced that it has charged Shawon McClung and his firm Flint-McClung Capital LLC (FMC) with misrepresentation, fraud, and misappropriation for running an off-exchange, over the counter (“OTC”) foreign currency (“forex”) Ponzi scheme. The Colorado-based McClung allegedly...FSA wins judgment against exploitative land bank
Posted byFelix Shipkevich on Jun 30, 2011 in Enforcement Actions, Restricted, Social Media, U.K. FSA | 0 comments
The U.K. Financial Services Authority (“FSA”) announced today that it has won summary judgment against Stephen Watkins and his firm, Consolidated Land UK. Watkins has been ordered to pay £920,000 back to his victims, and is banned from selling land in the UK. Through his company, Consolidated...Optiver oil manipulation case inches towards settlement
Posted byElan Mendel on Jun 30, 2011 in CFTC, Enforcement Actions, Featured, Restricted, Social Media | 0 comments
It is one of the largest oil manipulation cases ever filed by the CFTC, it has been dragging on for years, and it looks like it may be entering a new phase: settlement. Optiver Holding BV, two of its subsidiaries and three of its employees were hit with oil manipulation charges by the CFTC back in 2008. The...SEC widens scope of probe into Stifel over CDOs
Posted byElan Mendel on Jun 29, 2011 in Enforcement Actions, Featured, Restricted, SEC, Social Media | 0 comments
The Wall Street Journal reported today that the SEC has increased the scope of its probe into Stifel Financial Corp. The firm was sued in 2008 by five Wisconsin schools for allegedly misleading them about the risks of collateralized debt obligations (“CDOs”). Stifel has vehemently denied any...