Tag: Forex fraud

June 18, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch – $1.5M fine for Angel F. Collazo, ACJ Capital, and Solid View Capital

Collazo and his companies concealed trading losses, and misappropriated client funds for personal uses. The CFTC has obtained a federal court order requiring defendants Angel F. Collazo (formerly of Puerto Rico) and his companies, ACJ Capital (ACJ) and Solid View Capital LLC to pay $843,444 in restitution plus a $750,000 civil monetary penalty for fraudulently…

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June 04, 2013 BY Gerald Segal

CFTC fines wife for knowledge of husband's fraud

Melissa C. Rushton to ordered to pay $50,000 by court order. This is a new one..... The CFTC is now going after not just those who perpetrate fraud, but also their spouses, if it can show that the spouses knew of the fraud. The CFTC announced that it obtained a federal court order requiring Melissa C.…

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May 14, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch – $23M fine to Kevin and Keelan Harris and Karen Starr

CFTC says defendants lured clients to trade forex, but used funds for personal use. The CFTC has obtained a court order ordering Kevin Harris, Keelan Harris, Complete Developments, LLC (CDL), and Investment International Inc. (aka I3), all of Warren, Ohio, along with another defendant, Karen Starr of Barrie, Ontario, Canada, “collectively to pay restitution” of over $23 million. We've seen…

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April 30, 2013 BY Gerald Segal

UK's new regulator FCA takes first action against Forex fraud

Alex Hope and Raj Von Badlo charged with defrauding investors £5 million. The FCA has charged Alex Hope of Docklands, London and Raj Von Badlo of Bourne End, Buckinghamshire with 10 offences relating to a Forex investment scheme they operated. The FCA has alleged they both bilked over £5 million from investors. The charges come…

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April 09, 2013 BY Gerald Segal

LeapRate FX Fraud Watch – Forex Global Solutions, Barry Sendach, and Joshua Kershner

CFTC orders those named to pay $750,000, and imposes permanent trading and registration bans. The CFTC has ordered Barry Sendach of Boca Raton, FL and Joshua Kershner of Boynton Beach, FL, and their Boca Raton-based company Forex Global Solutions to pay a $750,000 fine for fraudulently soliciting customers to trade FX, and for violating CFTC registration requirements.…

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March 28, 2013 BY Gerald Segal

LeapRate FX Fraud Watch – $3.2 million fine to Victor Yu and VFRS

Claimed its software had shown positive returns on every trade it ever made. Did people actually believe that??? The CFTC has fined California-based Victor Yu his company VFRS a total of $3.2 million in a foreign currency fraud action.  The order finds that Yu and VFRS misrepresented that they had developed trading software that made forex…

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