CFTC issues penalty for Florida forex fraud

The CFTC announced that it has filed and settled charges against Mark Adrian related to foreign exchange (“forex”) trading fraud. The Florida-based forex trader has been ordered to pay a large civil monetary penalty, and is banned from trading on behalf of other people or registering with the...

CFTC charges Juvenal Machado with forex fraud

The CFTC announced it has filed charges against Invers Forex, LLC, and Invers’ sole principle, officer, and employee, Juvenal Eduardo Machado. The Miami-based firm allegedly defrauded investors of nearly $800,000 by operating a retail foreign exchange (“forex”) Ponzi scheme. According to the CFTC,...

BNY Mellon and State Street draw more fire for forex fraud

State Street and Bank of New York Mellon were catapulted back into the spotlight this week when Josh Mandel, Ohio’s treasurer, publically called for the state attorney-general to launch an investigation into the banks’ foreign exchange (forex) trade practices. This comes hot on the heels of an...

Easy Forex allegedly under investigation for foreign exchange fraud

Israeli news organization Globes is reporting that Easy Forex Ltd, an online foreign exchange dealer, has been under investigation by the Israeli Police for months. The investigation was sparked by Shmuel Rozovsky, an Easy Forex investor who lost hundreds of thousands of shekels. He and five others  filed a...

Angel Collazo and ACJ Capital charged with forex fraud by CFTC

The CFTC announced today that it has filed charges against Angel F. Collazo of Puerto Rico and his company, ACJ Capital, for off-exchange leveraged foreign exchange (forex) contracts fraud. Collazo is accused of fraudulently soliciting upwards of $1.7 million from 18 individuals, and then issuing false...

SEC investigating State Street, quarterly report says

The Boston-based State Street Corp. revealed this Tuesday that it is under investigation by the SEC. The agency is looking into allegations that the bank overcharged pension funds for foreign exchange transactions. If this investigation prompts charges, it will be just the latest in a long line of legal...

Jeffrey L. Groendyke charged by CFTC with operating Ponzi scheme

The CFTC has filed an enforcement action against Michigan resident Jeffrey L. Groendyke for his business dealings via the JG Forex Fund (JGF). The complain alleges that JGF was a Ponzi scheme, and Groendyke has been charged with fraud and misappropriation of funds. The scheme stole over $900,000 from 54...

CFTC charges Green Tree Capital with fraud in forex scheme

The U.S. Commodity Futures Trading Commission (CFTC) announced on April 14 that it charged Lyndon Lydell Parrilla and his company, Green Tree Capital, both of California, with operating a fraudulent multi-million dollar foreign exchange scheme since 2009. A Federal court issued an emergency order freezing...
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