CFTC Says Calif. Forex Trader Scammed Investors

Law360 (May 15, 2018, 4:37 PM EDT) -- The U.S. Commodity Futures Trading Commission has accused a California-based foreign currency trader of ripping off investors by acting as an unregistered commodities adviser and running a currency contracts scam, according to a complaint filed in California federal court Monday.

The agency claims that Jin Choi reaped at least $350,600 by telling investors he would use their funds to trade on the over-the-counter forex market but instead used the money to shop on Rodeo Drive and gamble in Las Vegas, among other lavish expenditures. Choi, who...
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Case Information

Case Title

Commodity Futures Trading Commission v. Jin Choi et al


Case Number

2:18-cv-03991

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Dolly M. Gee

Date Filed

May 14, 2018

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