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



Florida Middle

Nature of Suit



Gregory A. Presnell

Date Filed

September 27, 2011

Government Agencies

UK Financial Services

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