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Lawsuit books

Court enters final judgement against Easy Equity Asset Management

Mon, 23/05/2011 - 12:00

The United States District Court for the Central District of California has granted the SEC's motion for default judgment and entered a Final Judgment against defendants Easy Equity Asset Management, Inc, Easy Equity Management, LP, Easy Equity Partners, LP, Alero Equities The Real Estate Company, LLC, and Alero IX Corporation (collectively, Easy Equity) in a pending civil action. »

Judgement hammer

NFA levies USD500,000 fine against Vision Financial Markets LLC

Sun, 22/05/2011 - 16:00

National Futures Association (NFA) has levied a fine of USD500,000 against Vision Financial Markets LLC (Vision). Vision is a Futures Commission Merchant and Commodity Pool Operator with headquarters in New York City and branch offices in Chicago, Illinois and Stamford, Connecticut. »

orange fraud sign with magnifying glass

CFTC charges American Precious Metals and principals Goldman and Tanner, Jr, with Fraud

Thu, 19/05/2011 - 16:00

The US Commodity Futures Trading Commission (CFTC) has charged precious metals firm American Precious Metals, LLC (APM) of Deerfield Beach, Florida, and its founders and principals, Sammy J Goldman of Delray Beach, Florida, and Harry Robert Tanner, Jr.of Lake Worth, Florida, with fraud in connection with offering, purchasing, selling or delivering gold, silver, platinum and palladium to US retail customers on a leveraged basis. »

Dollar notes frozen in a block of ice

SEC freezes assets of fraudulent San Diego day-trading scheme

Wed, 18/05/2011 - 10:00

The Securities and Exchange Commission has filed an emergency enforcement action to halt a fraudulent scheme being conducted by John Clement of Encinitas, California, and his company Edgefund Capital LLC. »

Red Circle with line through, No Fraud sign

SEC charges Connecticut-based hedge fund manager in Ponzi scheme

Tue, 17/05/2011 - 11:46

The Securities and Exchange Commission (SEC) has charged Highview Point Partners, a Connecticut-based investment adviser, with engaging in a multi-year Ponzi scheme involving hundreds of millions of dollars. Highview was added as a defendant to a case the SEC previously filed in January 2011, and three hedge funds managed by Highview were named as relief defendants because, according to the SEC’s charges, they are in possession of funds tainted by the Ponzi scheme. »

Orange fraud sign with magnifying glass

SEC halts fraudulent day-trading scheme targeting senior citizens

Mon, 09/05/2011 - 06:00

The Securities and Exchange Commission has obtained an emergency asset freeze and court order to halt an ongoing securities fraud being orchestrated by Robert C Butler of Bermuda Dunes, Calif. »

Orange fraud sign with magnifying glass

CFTC charges Groendyke with operating a foreign currency Ponzi scheme

Thu, 05/05/2011 - 13:19

The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action charging Jeffrey L Groendyke of Middleville, Michigan, doing business as JG Forex Fund (JGF), with fraud and misappropriation in connection with an off-exchange foreign currency (forex) Ponzi scheme that defrauded at least 54 customers of at least USD953,305 since May 2010. Groendyke has never been registered with the CFTC in any capacity. »

Orange fraud sign with magnifying glass

Howard Winell and Winell Associates fined USD5.2m for fraud

Tue, 03/05/2011 - 13:10

The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against Howard Winell, Winell Associates, Inc and Maxie Partners GP over unauthorised trading and misappropriating funds in connection with operating a commodity futures and options pool. »

Orange FRAUD sign with magnifying glass

SEC halts fraudulent Beverley Hills hedge fund and wealth management business

Wed, 27/04/2011 - 06:00

The Securities and Exchange Commission has obtained an emergency court order to shut down a Beverly Hills, California hedge fund and wealth management business targeting retirees, university professors, and members of the Christian community. »

Brian Kim, Liquid Capital

Kim and Liquid Capital Management, to pay more than USD12m in restitution and monetary sanctions for commodity pool fraud

Tue, 26/04/2011 - 14:00

The US Commodity Futures Trading Commission (CFTC) on April 15, 2011, obtained a federal court order imposing more than USD12 million in restitution and civil monetary penalties on defendants Brian Kim and his company, Liquid Capital Management, LLC (LCM), for fraud in connection with the operation of a commodity pool. »

No scam sign, Red circle with line through the word Scam

Receiver makes USD792m initial distribution to investors in USD1.3bn Ponzi scam

Tue, 26/04/2011 - 12:00

The US Commodity Futures Trading Commission (CFTC), based on an order entered on March 21, 2011, by the US District Court for Southern District of New York (SDNY), the court-appointed Receiver, Robb Evans & Associates, LLC, has begun an initial distribution of approximately USD792 million to investors in a commodity pool operated by CFTC defendants Paul Greenwood and Stephen Walsh, who, among other defendants, were charged by the CFTC in 2009 with operating a USD1.3 billion investment Ponzi scam. This constitutes a distribution of nearly 85 per cent of approved claims to investors. »

Barred sign, red circle with red line through

SEC charges former hedge fund portfolio manager with insider trading

Thu, 21/04/2011 - 06:00

The Securities and Exchange Commission has charged a former hedge fund portfolio manager with insider trading in a bio-pharmaceutical company based on confidential information about negative results of the company’s clinical drug trial. »

Orange FRAUD sign with magnifying glass

CFTC charges Parrilla and Green Tree Capital over fraudulent forex scheme

Sun, 17/04/2011 - 17:00

The US Commodity Futures Trading Commission (CFTC) has charged Lyndon Lydell Parrilla and his company, Green Tree Capital, both of Woodland Hills, California, with operating a fraudulent multi-million dollar foreign exchange (forex) scheme since at least 2009. »

orange Fraud sign with magnifying glass

CFTC settles charges against Kuen Cheol Song for illegal, fictitious trading scheme

Thu, 14/04/2011 - 10:00

The US Commodity Futures Trading Commission (CFTC) has obtained USD615,000 in disgorgement and a civil monetary penalty in a federal court consent order against defendant Kuen Cheol Song, who resided in Singapore during the relevant time period, for engaging in an illegal, fictitious trading scheme. Song has never been registered with the CFTC. »

No Fraud sign, red circle with red line through the word FRAUD

CFTC and State of California charge The Trade Tech Institute over CTA fraud

Wed, 23/03/2011 - 11:32

The US Commodity Futures Trading Commission (CFTC) has announced that a federal court in Los Angeles entered a restraining order against defendants The Trade Tech Institute, Inc (Trade Tech), Technology Trading International, Inc (Tech Trading), Robert Sorchini and Richard Carter, freezing defendants’ assets, prohibiting the destruction or alteration of their books and records and requiring defendants to provide an accounting of all funds and assets under their control. »

Law books and gavel

CFTC charges Jeremy M Globe and GlobeFX Club, Inc, with making false statements to the NFA

Wed, 23/03/2011 - 06:00

The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action charging defendants Jeremy Munson Globe and GlobeFX Club, Inc (GFC), both of Homestead, Florida., with making false, fictitious or fraudulent statements or omissions to the National Futures Association (NFA) during an NFA investigation and audit. Both Globe, a principal of GFC, and GFC were registered with the CFTC during the period covered by the NFA audit. On October 1, 2009, NFA permanently barred GFC from NFA membership. »

pile of Lawsuit books

CFTC charges Florida couple and Queen Shoals Consultants over USD1.44m florex fraud

Mon, 21/03/2011 - 16:13

The US Commodity Futures Trading Commission (CFTC) has charged Gary D Martin and his wife, Brenda K Martin of St. Augustine, Fla. (collectively, the Martins), and their company, Queen Shoals Consultants, LLC (QSC), of Charlotte, NC, with defrauding customers of more than USD1.44 million through a retail foreign currency (forex) trading scheme. None of the defendants has ever been registered with the CFTC. »

The word FRAUD with a magnifying glass

CFTC charges Alan James Watson, Michael S. Potts and Cash Flow Financial LLC over USD45m Commodity Pool Ponzi Scheme

Wed, 16/03/2011 - 12:07

The US Commodity Futures Trading Commission (CFTC) has filled a complaint in the US District Court for the Eastern District of Michigan charging defendants Alan James Watson and Cash Flow Financial LLC (CFF), both of Clinton Township, Mich, and Michael S Potts of Mountville, Pa, with fraudulently soliciting and accepting at least USD45 million from more than 600 individuals and entities to participate in a commodity pool to trade commodity futures contracts and securities. None of the defendants has ever been registered with the CFTC. »

The word FRAUD with a magnifying glass

Dennis Todd Hagemann and Yellowstone Partners to pay more than USD1.6m over forex Ponzi scheme

Sun, 13/03/2011 - 13:28

The US Commodity Futures Trading Commission (CFTC) has obtained a federal default judgment order requiring defendants Dennis Todd Hagemann and his company, Yellowstone Partners, Inc (Yellowstone), both of Raleigh, NC, to pay more than USD1.6 million in restitution and civil monetary penalties for defrauding investors in a foreign currency (forex) Ponzi scheme. »

Judgement Hammer

CFTC Charges Jacob Juma Omukwe and his companies over fraudulent USD3m forex scheme

Thu, 10/03/2011 - 13:52

The US Commodity Futures Trading Commission (CFTC) has filed a complaint in the US District Court for the Western District of Wisconsin charging defendants Jacob Juma Omukwe, JadeFX Ltd (JadeFX) and Jade Investments Group, LLC (Jade), with operating a fraudulent off-exchange retail foreign currency (forex) scheme through the website www.jadefx.com. None of the defendants has ever been registered with the CFTC. »

The word FRAUD with a magnifying glass

Forward Investment Group to pay USD46.9m over commodity pool fraud

Tue, 08/03/2011 - 12:34

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order imposing more than USD46.9 million in restitution and civil monetary penalties on Robert D Bame of Moreno Valley, Califonia, and his firm, Forward Investment Group, LLC (Forward) of Santa Monica, California. The order requires the defendants to pay restitution of USD16,038,568.68 and a USD30,887,006 civil monetary penalty for commodity pool fraud. »

fraud sign with red line through it

CFTC charges Ortiz and his companies over off-exchange foreign currency scam

Sun, 06/03/2011 - 14:00

The US Commodity Futures Trading Commission (CFTC) has filed an anti-fraud enforcement action against defendants David L Ortiz of Vero Beach, Florida, and his companies, Goyep International, Inc, of Vero Beach, Florida, and Royal Returns, Inc, of Hollywood, Florida, charging them with operating a fraudulent off-exchange foreign currency (forex) scheme that accepted funds totalling at least USD420,000 from at least 10 customers. »

FRAUD sign with magnifying glass

Jeffrey Shalhoub and Jeff Shalhoub Investments to pay more than USD700,000 over commodity futures Ponzi scheme

Fri, 04/03/2011 - 06:00

The US Commodity Futures Trading Commission (CFTC) has obtained more than USD700,000 in restitution and civil monetary penalties in a federal court order against Jeffrey Shalhoub of Staten Island, NY, and his company, Jeff Shalhoub Investments (JSI) of Long Island City, NY, in connection with the fraudulent operation of a commodity futures Ponzi scheme. »

The word fraud with magnifying glass

CFTC charges Stuckey over USD2.8m forex fraud

Thu, 24/02/2011 - 17:00

The US Commodity Futures Trading Commission (CFTC) has filed an anti-fraud civil lawsuit charging defendants Randall Lynn Stuckey of St Peters, M., and his Missouri-based business entities, Stuckey Group, LP, Stuckey Group II, LP and Oakwood Development Company LP, with operating an illegal off-exchange foreign currency (forex) scheme that defrauded more than 65 customers out of at least USD2.8 million. »

dollars frozen in ice

Federal Court freezes assets of Texas man Larry Benny Groover over forex Ponzi scheme

Sun, 20/02/2011 - 14:00

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing the assets of defendant Larry Benny Groover of Gunter, Texas, charged with operating a USD1.4 million foreign currency (forex) Ponzi scheme and misappropriating customer funds for his personal use. Groover has never been registered with the CFTC. »

fraud sign with magnifying glass

CFTC freezes assets over USD35m forex Ponzi scheme

Thu, 17/02/2011 - 12:00

The Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing the assets held by defendants Keith F Simmons of West Jefferson, NC, Bryan Coats of Clayton, NC, Jonathan Davey of Newark, Ohio, and numerous corporate entities controlled by them. »

dollars frozen in a block of ice

New York Federal Court freezes assets of Brian Kim and Liquid Capital Management

Wed, 16/02/2011 - 14:00

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing assets held by defendants Brian Kim and Liquid Capital Management, LLC (Liquid Capital), both of New York, NY.  »

The word FRAUD with magnifying glass

CFTC orders Northstar and founder to pay more than USD11m to settle anti-fraud action

Sun, 06/02/2011 - 13:12

The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against James M Peister and his company, Northstar International Group, (Northstar), that they defrauded commodity pool participants by concealing trading losses and using participants’ funds to make payments to other participants and for business and personal expenses. Peister resides in St. James, NY, and Northstar is located in Oceanside, NY. »

Money frozen in ice

Utah Federal Court freezes assets of Robert Andres and his Houston firm

Wed, 02/02/2011 - 12:49

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing assets held by defendants Robert J. Andres and Winsome Investment Trust (Winsome), both of Houston, Texas, Robert L. Holloway of San Diego, California, and US Ventures LC (USV) of Salt Lake City, Utah. »

No fraud sign

Diamond Ventures to pay more than USD4m over forex fraud

Wed, 26/01/2011 - 16:00

The US Commodity Futures Trading Commission (CFTC) has obtained more than USD4 million in restitution and civil monetary penalties in a federal judgment order against defendants Beau Diamond and his company, Diamond Ventures LLC (DVL), both of Sarasota, Florida. »

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