CMA Capital, Owner Ran $4.5M Forex Ponzi: CFTC

Law360, New York (April 7, 2010, 4:28 PM EDT) -- CMA Capital Management and owner Claudio Aliaga ran a $4.5 million Ponzi scheme, soliciting money from investors who were under the impression that Aliaga would consistently bring in 2 to 3 percent monthly returns for his customers, according to a lawsuit filed by the U.S. Commodity Futures Trading Commission.

The CFTC filed its complaint in the U.S. District Court for the Southern District of Florida on Monday, naming Aliaga and Miami Lakes, Fla.-based CMA Capital as defendants.

Investors forked over their cash to the defendants for...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.