CFTC Accuses Nine Firms Of Duping Investors

Law360, New York (March 26, 2007, 12:00 AM EDT) -- The Commodities Futures Trading Commission has accused nine phony futures trading firms of bilking investors out of millions of dollars by soliciting investments using false Web sites and fictitious futures exchanges.

The CFTC last week filed four complaints in the U.S. District Court for the Southern District of New York, naming nine firms that fraudulently claimed to be either futures exchanges or futures brokers. All nine also falsely claimed to be located in the United States.

The complaints name New York Options Exchange, Tahoe Futures, International...
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