Reuters has published an investigative article entitled London Calling: How British firms built a pyramid scheme in China that lost millions, which describes a network of opaque companies which drew on London's reputation as a leading financial center, and the illusion of regulation, to dupe Chinese investors. The story has all the elements of a great (but sad)…
Read moreRon Earl McCullough and David Christopher Mayhew will have to pay $1,223,388.43 in restitution and a $2,486,619.87 civil monetary penalty for operating a fraudulent Forex scheme.
Read moreCFTC complaint results in one of the largest fines ever handed out to individuals in the US for currency trading fraud.
Read moreOhio Federal Court Rules against Defendants in Connection with Foreign Currency Ponzi Scheme The U.S. Commodity Futures Trading Commission (CFTC) announced on Friday March 21, 2014 that Judge David D. Dowd Jr. of the U.S. District Court for the Northern District of Ohio granted summary judgment and issued a Memorandum Opinion, a Judgment Entry, and a…
Read moreHe promised his victims a steady 7% monthly return from forex trading for almost 5 years The CFTC has announced in a press release that it has obtained an order requiring David R. Lynch to pay restitution of $171,297 plus $300,000 civil monetary penalty. Not so smooth for a rather small forex Ponzi scheme that…
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