$85 Million Forex Ponzi Scheme
The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed an action in federal court in San Francisco charging SNC Asset Management, Inc., (SNC Asset) and SNC Investments, Inc., (SNC Investments), both of Pleasanton, California (collectively SNC), and Chief Executive Officer Peter Son and Chief Financial Officer Jin K. [...]
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Jacksonville Man Sentenced to 10 Years in Prison for Operating Ponzi Scheme Under the Guise of a Foreign Currency ‘Hedge Fund’
Defendant Defrauded Investors of More Than $23 Million in Less Than 5 Years
ATLANTA, March 31 /PRNewswire-USNewswire/ — Manyu Ogale, 44, of Jacksonville, Fla., was sentenced today by U.S. District Judge Richard W. Story to 10 [...]
Ponzi Schemes Included Classic Forex Frauds
I have reprinted the following releases from the CFTC website. It is obvious the CFTC has had their hands full as more and more Ponzi schemes come to light.
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Release: 5635-09
For Release: March 18, 2009
CFTC Charges North Carolina Foreign Currency Firm Barki, LLC and Its Recently Deceased Principal Bruce C. Kramer [...]