CFTC Scores Partial Win In $3M Forex Fraud Case

Law360, New York (August 30, 2013, 4:30 PM EDT) -- A New York federal judge handed a partial victory to the U.S. Commodities Futures Trading Commission on Thursday, saying a foreign currency trader knowingly lied to investors and lost $2.9 million but held off on determining if two company executives that managed the exchange accounts knew of the fraud.

There's no question that commodities trader Joseph Burgos hid his history of losing investments in the foreign exchange market in order to solicit business through his company Highland Stone Capital Management LLC, U.S. District Judge Katherine Forrest...
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Case Title

U.S. Commodity Futures Trading Commission v. Highland Stone Capital Management, L.L.C. et al


Case Number

1:11-cv-05209

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Katherine B. Forrest

Date Filed

July 27, 2011

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