Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich September 10, 2011

The CFTC has charged Jeffrey Liskov and his firm, EagleEye Asset Management, LLC, with foreign exchange (“forex”) fraud. The Massachusetts resident allegedly cheated and defrauded at least one customer out of over $3 million in retirements funds

According to the complaint, between October 2008 and August 2010, Liskov fraudulent solicited a customer when he failed to inform that customer that he was an unsuccessful forex trader, that that forex is a risky investment. The defendant also allegedly told the customer that forex was a conservative investment choice.

Furthermore, the CFTC says that Liskov engaged in unauthorized trading in the customer’s account, and misappropriated funds. These activities allowed Liskov and Eagle Eye to earn $235,000 in fees that they were not entitled to. When Liskov lost money trading, he forged the customer’s signature in order to deposit more money.  In total, Liskov caused the customer to lose over $3.24 million in forex trading.

The CFTC is seeking the return of ill-gotten gains, restitution, rescission, civil monetary penalties, and trading and registration bans for the defendants.

Read more about this CFTC enforcement action.
Creative Commons License photo credit: AMagill

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