At Least 75K Investors Duped By Video Scams: SEC, CFTC
Law360 (September 27, 2018, 7:33 PM EDT) -- The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission collaborated to bring five federal complaints Thursday against marketers they claim duped at least 75,000 investors out of tens of millions of dollars with videos that falsely promised quick money.
The cases, three of which were brought by the SEC and two of which were brought by the CFTC, allege marketers produced and distributed videos that misled investors into believing they could make lots of easy money by opening accounts to trade binary options, which either pay a set amount or nothing after a fixed period. The marketers were aware...
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