CFTC Calls Panamian Commodity Pool $1.7M Ponzi Scheme

Law360, New York (September 28, 2011, 1:58 PM EDT) -- U.S. futures and commodity regulators on Tuesday alleged in Florida federal court that a Panamanian commodity pool operator that claimed to produce monthly profits of up to 26 percent was actually a $1.7 million Ponzi scheme.

In its complaint, the U.S. Commodity Futures Trading Commission alleged that between April and December 2009, Alpha Trade Group SA collected approximately $1.7 million from roughly 300 investors around the U.S., claiming it would pump the money into foreign exchange and commodity futures contracts.

Of that total investment, only $57,500...
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Case Information

Case Title

Commodity Futures Trading Commission v. Alpha Trade Group, S.A. et al


Case Number

6:11-cv-01584

Court

Florida Middle

Nature of Suit

Securities/Commodities

Judge

Gregory A. Presnell

Date Filed

September 27, 2011

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