Tag Archives: fraud
Federal Court Orders Charlotte, NC, Couple and Their Companies to Pay $24 Million for Defrauding Customers in Forex Ponzi Scheme
2
2011
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced it obtained a federal court supplemental consent order requiring defendants Sidney S. Hanson, Charlotte M. Hanson, and their companies, Queen Shoals, LLC, Queen Shoals II, LLC, and Select Fund, LLC, to pay $24 million in restitution and civil monetary penalties for defrauding customers and misappropriating millions of dollars in a foreign currency (forex) Ponzi scheme (see CFTC Press Release 5689-09, August 7, 2009).
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CFTC Charges Accounting Firm McGladrey & Pullen, LLP, and Partner David Shane with Failure to Properly Audit One World Capital Group
22
2011
It’s extremely interesting to see CFTC taking the oversight of its members one step further by going after not only its member firms but even after their auditors – if those failed to do their job. CFTC just charged an accounting firm and one of its partners for failing to properly audit One World Capital Group – a former forex broker which ceased its operations in 2007. This adds to CFTC’s aggressive pursuit of even completely foreign firms which it perceives as breaking its rules.
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State Street Corporation (company that owns Currenex) is being now investigated by the SEC with regards to its foreign exchange pricing. The issue at hand is the foreign exchange pricing that State Street used when providing custodial services to several …
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It was one of my first posts here on Forex Magnates almost two years ago! And now this case is close to completion. David Smith from notorious Olint (an alleged forex Ponzi scheme which bilked investors out of hundreds of …
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