Judge Hits Alleged Forex Scammer With $9M Judgment

Law360, New York (June 27, 2012, 8:49 PM EDT) -- A Texas federal judge on Tuesday entered a $9 million judgment against Growth Capital Management LLC and its head Robert Mihailovich Sr. on claims he fraudulently solicited more than $30 million from customers to invest in commodity futures and foreign currency.

U.S. District Judge Jane J. Boyle’s judgment brings to an end a suit filed by the U.S. Commodities Futures Trading Commission that alleged Mihailovich and Growth Capital Management lied about rates of return and Mihailovich’s prior felony conviction for mail fraud in order to attract...
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