Tag Archives: ponzi
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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Another one gets caught. The rise in Forex Ponzi schemes has been remarkable over the last two years.
Culprits are misuing FX trading as a front, promising returns of over 10%. David R. Lewalski, formerly of Gainesville, Fla., pleaded guilty today to mail fraud in connection with his operation of a $30 million investment fraud scheme,
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CFTC Charges Lyndon Lydell Parrilla and Green Tree Capital, with Fraud in Multi-Million Dollar Forex Scheme
15
2011
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it charged Lyndon Lydell Parrilla and his company, Green Tree Capital, both of Woodland Hills, Calif., with operating a fraudulent multi-million dollar foreign exchange (forex) scheme since …
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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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