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Commodity Futures Trading Commission v. Robinson et al
Case Number:
2:23-cv-12456
Court:
Nature of Suit:
Judge:
Government Agencies
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April 24, 2024
Forex Trader Must Pay $11.8M For Ponzi-Like Scheme
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.
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September 29, 2023
CFTC Says Forex Pool Bilked $7.1M From Participants
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.