SEC Targets Fundraiser Over $194M Forex Fraud

Law360, New York (March 8, 2011, 1:58 PM EST) -- Federal regulators on Monday filed suit in Minnesota against one of the primary fundraisers in a fraudulent currency trading scheme that allegedly swindled $194 million from investors and put one of its orchestrators behind bars.

The U.S. Securities and Exchange Commission expanded its crackdown on a massive foreign exchange scheme, accusing Jason Bo-Alan Beckman and his registered investment advisory firm, The Oxford Private Client Group LLC, of funneling more than $47 million into the currency program.

On Tuesday, Judge Michael J. Davis of the U.S. District...
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