Tag: ponzi

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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March 06, 2015 BY Maria Nikolova

Phillip Boakes gets 10-year prison sentence over FX Ponzi scheme

Phillip Boakes, who defrauded investors of more than £3.5 million, was today sentenced at Southwark Crown Court to 10 years in jail. Boakes, who ran CurrencyTrader Ltd, a company engaged in Forex spread betting, lured investments using false instruments and taking deposits without having the proper authorization. In running a typical Ponzi scheme, Boakes funded…

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