Fuad Ahmed and his firm Success Trade Securities ordered to ordered to pay approximately $13.7 million in restitution to 59 investors.
Read moreIn a crime and punishment move within the financial industry, Australia's markets based regulator ASIC shows there is 'serious consequences for company directors who act dishonestly' within the jurisdiction. Australia has been attracting some of the best brands in FX and CFD trading, one of the reasons is the perceived safety in clients minds of…
Read morePotential Ponzi scheme highlighted by CRFIN, making bold claims of 2230% APR return on investment. Russian regulator urges potential investors to steer clear.
Read moreHis company SureInvestment stripped over 300 clients of more than £21 million The FCA has reported that it successfully concluded the prosecution of Benjamin Wilson – a fraudster that has managed to deceive more than 300 investors into entrusting his company SureInvestment £21.8 million. Justice is heavy – the scammer will serve seven years in…
Read moreJenkins ran a Ponzi scheme through his company Harbor Light Asset Management allegedly trading S&P 500 Futures According to a press release by the CFTC the list of fraudsters that have been heavily fined for violating US laws has grown with one more name in it. The latest addition is Michael Anthony Jenkins and his…
Read moreThe megabank adds yet another lawsuit to its growing settlements list The never-ending story of banking industry heavyweights getting hefty fines goes on with yet another twist. First it was the uncovering of mortgage fraud, then the Libor scandal, followed by the London Whale and now we still have an ongoing investigation surrounding the 4pm London…
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…
Read moreMore than 50 people scammed through a commodity pool in Connecticut The Commodity Futures Trading Association (CFTC) has announced today that it has obtained a court order against Feisal Sharif, operating through his commodity pool First Financial LLC in Branford, Connecticut. The restitution pronounced by the court amounts to $2.2 million plus $900,000 civil monetary…
Read moreThe fraudster is already serving his sentence and funds are nowhere to be found The US regulator CFTC has issued a statement regarding a federal court order for $17 mln that it obtained against California resident Lyndon Parrilla. He and his company Green Tree Capital have defrauded over 50 customers of over $4 mln. The…
Read moreAlex Ekdeshman and his company Paramount Management LLC used the vast majority of customer funds for business expenses. The CFTC has announced that it has obtained a federal court order against Alex Ekdeshman of Holmdel NJ and his company Paramount Management LLC, requiring $1.1 million in restitution to their defrauded customers plus a $1.3 million monetary…
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