Convicted Forex Fraudster To Pay $31M To Customers, CFTC

Law360, New York (January 31, 2012, 8:29 PM EST) -- A forex trader already convicted of fraud for using sham trades to bilk investors told a Texas federal judge on Tuesday that he would pay $31 million in disgorgement and civil penalties to the U.S. Commodity Futures Trading Commission over the scheme.

The CFTC gave U.S. District Judge Gray Miller a consent order saying Robert David Watson and his sham forex companies PrivateFX Global One Ltd. SA and 36 Holdings Ltd. had agreed to disgorge $21 million to customers and pay $10 million in civil penalties...
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Case Information

Case Title

US Commodity Futures Trading Commission v. PrivateFX Global One Ltd SA et al

Case Number



Texas Southern

Nature of Suit



Judge Gray H. Miller

Date Filed

May 21, 2009

Government Agencies

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