April 24, 2024
A Michigan federal judge on Tuesday said a purported forex commodity pool operator and its agent must pay more than $11.8 million in penalties and restitution for bilking participants in a Ponzi-like scheme, after the defendants ignored a Commodity Futures Trading Commission suit.
September 29, 2023
The Commodity Futures Trading Commission has filed suit against a purported forex commodity pool operator and its agent for allegedly bilking more than $7.1 million from participants to pay for luxury cruises and vehicles while operating a Ponzi-like scheme.