Tag Archives: forex ponzi
This case just gets more and more complicated. Crown Forex is an extremely complicated case of a Forex brokerage that turned out to be a ponzi scam. We’ve already reported today about another uncovered forex ponzi brokerage (One World Capital) …
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One World Capital was apparently a forex ponzi – owners John Walsh and Charles Martin get 12-17 years in prison
3
2012
This one was pretty much below the radar although One World Capital was probably the biggest US forex brokerage that turned out to be a scam. NFA’s capital requirements which gradually rose from almost nothing to $20+ million since 2008 …
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Although there were quite a few red flags about this brokerage available all over the internet (forexpeacearmy for instance and others) and even CFTC suing them for accepting American clients I didn’t take much notice. This is because I don’t think that CFTC should be allowed to impose its requirements on foreign brokers and also that there are bad reviews (sometimes very bad) about the most decent brokers – it’s just the nature of this business.
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Federal Court Orders Forex Dealer Jacob Juma Omukwe to Pay over $2.6 Million for Forex Scheme
23
2011
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) obtained a supplemental consent order requiring defendants Jacob Juma Omukwe and his companies, JadeFX, LTD (JadeFX) and Jade Investments Group, LLC (Jade), jointly and severally to pay over $2.6 million in restitution and civil monetary penalties to settle a CFTC anti-fraud enforcement action filed in March 2011.
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