Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich September 18, 2009

Following a complaint filed in June 2009, the NFA’s Buisness Conduct Committee has found that Capital Blu failed to cooperate fully and promptly with NFA in its investigation of the firm’s operations. The NFA issued a Member Responsibility Action (MRA) against the firm in September 2008, and in April 2009 the CFTC filed an action in federal court charging it with mishandling customer funds. Capital Blu is now permanently bared.

22 thoughts on “NFA ACTION: Capital Blu Management LLC

  1. Capital Blu's LLC is a Florida company, but its General Partner, Donovan Davis Jr, has a history of activity in Jamaica. The Jamaica Observer reports:

    [Donovan Davis Jr] – "Now there have been a lot of things written in the newspapers, and I would like this opportunity to clarify prevailing misconceptions. Capital Blu Limited, which is an incorporated Jamaican company, is the entity that is going to apply to the FSC for the solicitation of funds in Jamaica.

    "Capital Blu Management LLC is the trader that manages accounts in the United States and has clients throughout the world that open accounts under their own names through brokers. This is not unusual and is done by the world's most reputable financial institutions. Capital Blu Limited has not received a single cheque for investment purpose from anyone in Jamaica and that is a fact."

  2. Except that if you check the financial records of either company, you will see that funds were accepted and moved around. It's all in who you know.

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