Tag: Forex fraud

sec fraud
November 13, 2017 BY LeapRate Staff

Draven LLC and owner Derek Springfield banned and fined in multi million dollar Forex fraud

The U.S. Commodity Futures Trading Commission (CFTC) has  announced that Judge David G. Campbell of U.S. District Court for the District of Arizona entered a Consent Order against Defendants Derek Springfield and his company, Draven, LLC (Draven), both of Mesa, Arizona finding that they fraudulently solicited and received at least $1.8 million from approximately 112 commodity pool participants in…

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August 24, 2017 BY LeapRate Staff

Unique Forex, White Cloud Mountain, Blackbox Pulse and their owners charged with Forex fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action against defendants Thomas Lanzana (doing business as Unique Forex) currently of Pawleys Island, South Carolina and his company Blackbox Pulse, LLC of North Bergen, New Jersey, as well as Nikolay Masanko and his company White Cloud Mountain, LLC, both of St. Augustine, Florida, charging…

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cftc penalty
January 09, 2017 BY admin

New York FX investment fraudsters ordered to pay $11.6M in sanctions

The U.S. Commodity Futures Trading Commission (CFTC) obtained judgments against each of the Defendants and Relief Defendants in a fraudulent, Forex scheme involving misappropriation of customer funds and false statements to customers to conceal the fraud. The Orders impose permanent registration and trading bans against the Defendants and order the Defendants to pay over $11.6…

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UN report says North Korea laundered $2 billion theft via Hong Kong firm
January 04, 2017 BY Valentina Kirilova

Dubai police arrest CEO of Exential Forex scam, Sydney Lemos

An Indian chief executive of a forex trading company in Dubai who swore to double investors' money was arrested for suspected fraud, authorities announced. Sydney Lemos, 36, from Goa was the owner of Exential, a forex trading company in Dubai and was behind the failed Dh50 million ($13.6 million) foreign exchange scheme, the National daily…

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cftc penalty
December 28, 2016 BY LeapRate Staff

CFTC charges Brett G. Hartshorn with $906,000 retail forex fraud

U.S. forex and futures regulator, the Commodity Futures Trading Commission (CFTC), has filed a civil enforcement action in the U.S. District Court for the Southern District of New York, charging Brett G. Hartshorn of Sarasota, Florida, with fraudulently soliciting and/or managing at least $906,000 from retail clients to invest in off-exchange forex transaction. Mr. Hartshorn…

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June 03, 2016 BY Mike Fox

SEC charges NYC Forex trader who lied on track record, hid millions in losses

The Securities and Exchange Commission today charged a New York City-based trader with defrauding investors out of millions of dollars by misrepresenting her investment track record, the profitability of her investments, and her use of investor funds. The SEC alleges that Haena Park and her firm - referred to as "Phaetra" and/or "Argenta" - touted her supposedly…

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