National Futures Association (NFA) today announced it has permanently barred Chicago, Ill., sole proprietor commodity trading advisor (CTA) Tina Mozhayski, DBA RF INTL, from membership and from acting as a principal of an NFA Member.
The Decision, issued by an NFA Hearing Panel, is based on a Complaint authorized by NFA’s Business Conduct Committee on March 18, 2015. The Hearing Panel found that Mozhayski accepted investment funds from a customer although she was not registered to do so, provided false customer statements indicating positive returns when Mozhayski’s forex trading resulted in negative performance, and converted at least a portion of the customer’s funds for her own personal use.
Woman claimed that she had invested $15,000 with Mozhayski based on Mozhayski’s promise that she could make a 20% return on her investment.
NFA has been unable to determine exactly how much money Mozhayski has received from customers. However, based on account statements NFA received from the broker, it appears that, from 2009 through the present, Mozhayski has deposited over $50,000 to her forex trading account at the broker- which, as previously alleged, currently only has a balance of approximately $4,000.
In addition, the Hearing Panel found that Mozhayski willfully submitted false information to NFA in her quarterly CTA reports and annual questionnaire, as well as at the start of NFA’s examination. Finally, the Hearing Panel found that Mozhayski failed to cooperate with NFA, and failed to observe high standards of commercial honor and just and equitable principles of trade.
The complete text of the Complaint and Decision can be viewed on NFA’s website.