Australian Exec Accused Of Running $53M Forex Fraud

Law360, Houston (September 18, 2012, 11:13 PM EDT) -- U.S. regulators hit an Australian investment firm and its principal executive with parallel suits Tuesday in Texas federal court, alleging the exec lied about the risk of his investment strategy, costing clients $53 million through an elaborate foreign investment scam.

The U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission allege Senen Pousa, through his company Investment Intelligence Corp., lied to some 960 foreign exchange investors, promising a monthly return of 9 percent and that less than 3 percent of their capital was...
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