CFTC Accuses Queen Shoals Execs Of $22M Forex Fraud

Law360, New York (March 15, 2011, 5:40 PM EDT) -- The U.S. Commodity Futures Trading Commission launched a North Carolina lawsuit Tuesday accusing purported foreign currency trader Queen Shoals Consultants LLC of fraudulently pulling in more than $22 million from investors and using the cash to bag referral fees.

CFTC attorney Timothy J. Mulreany lodged the suit in the U.S. District Court for the Western District of North Carolina, alleging that Queen Shoals and its purported executives, co-defendants Gary D. Martin and Brenda K. Martin, never made any forex trades with their customers' money.

The commission...
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Case Information

Case Title

US Commodity Futures Trading Commission v. Martin et al


Case Number

3:11-cv-00132

Court

North Carolina Western

Nature of Suit

Securities/Commodities

Judge

Robert J. Conrad, Jr

Date Filed

March 15, 2011

Government Agencies

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