CFTC Charges Hedge Funds, New Yorker In FX Scheme

Law360, New York (January 30, 2006, 12:00 AM EST) -- The U.S. Commodity Futures Trading Commission has accused a Staten Island man and the two funds he controlled of stealing over $5 million from investors in a fraudulent foreign currency futures trading scheme, as the hedge fund industry continues to draw a suspicious eye from regulatory agencies.

On Monday, the CFTC revealed that it had filed a formal complaint in U.S. District Court in New York last September against Alexsander Efrosman and Century Mazin Fund Inc. and AJR Capital Inc, the two funds he allegedly managed....
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