Machupe مانيلا - النقد الاجنبى للاستثمار - احتيال

غش الاستثمار في العملات الأجنبية الاستثمارات في سوق صرف العملات الأجنبية (فوريكس) هي ترقية احتيالية جديدة نسبيا يتم تطويرها وبيعها في جميع أنحاء البلاد. أنت تؤدى إلى الاعتقاد بأنك تستثمر في سوق العقود الآجلة للعملات التي تخضع لرقابة عالية، وسوق تتداوله البنوك الكبيرة والمؤسسات المالية التي لا تتجاوز عمولات تداولها نقطتين أو ثلاث نقاط. ويشار إلى سوق العملات الأجنبية كوتسكوت عادة باسم كوتفوريسكوت. ويمكن تداول عقود العملات الأجنبية بصورة مشروعة إما في تبادل آجلة معترف به أو في سوق كينتيربانك، وهو ما ينطوي عادة على التداول بين المؤسسات الكبيرة مثل المصارف والشركات، وليس على العملاء الأفراد أو الأفراد. وكثيرا ما تخبر شركات التداول بالعملة الاحتيالية العملاء بأن تداولهم يتم في سوق كينتيربانك نيابة عنك. مع 10،000 وديعة، والحد الأقصى الذي يمكن أن تخسر هو 200 إلى 250 في day. quot العديد من التجار العملة يطلب من العملاء لمنحهم المال المعروف باسم كوتارجين، وكثيرا ما مبالغ في حدود 1000 إلى 5،000. هذه المبالغ، وهي صغيرة نسبيا في أسواق العملات، في الواقع السيطرة على كميات أكبر بكثير من الدولار من التداول. يمكن أن يجعل التداول بالهامش مسؤولا عن خسائر الدولار التي تتجاوز كثيرا مبلغ الهامش الذي أودعته. كتيو تأخذ فقط قدر من المخاطر كما تراه مناسبا. وتسمح هذه التجارة بالرافعة المستثمرين للمضاربة مع هامش نقدي أقل من 5 من سعر الدولار الأمريكي للعملات الأجنبية مثل مارك الألماني والفرنك السويسري والجنيه البريطاني و الين الياباني. إذا كان سوق الأسهم يتحرك صعودا أو هبوطا، في سوق العملات سوف تجعل دائما الربح. كوت يتم بالفعل بيع ضحايا هذه المروجين الاحتيالية موقف في سوق العملات الآجلة التي هي على حد سواء غير منظم ولا يوفر أي ضمان أن المروج قد حصلت على المركز الأمامي في العملة المتداولة. كما أنك لست على دراية بأنك ستدفع 50 عمولة على كل صفقة وأنه ليس لديهم فرصة لتحقيق أرباح أو استرداد استثماراتهم. وغالبا ما يستخدم هذا النوع من المصطلحات احتيال الاستثمار جنبا إلى جنب مع مخططات البنك رئيس ومدعومة من قبل المدفوعات بونزي. وقامت مجموعة واحدة هي "فوركس إنفستمنت" بتعيين "ترادرسكوت" الذي لم يكن لديه في الواقع تدريب كاف وخبرة كافية في مجال تداول العملات الأجنبية، مما جعل معظم حسابات المستثمرين تعاني من خسائر كبيرة في ثلاثة من كل أربعة دولارات استثمرت في البرنامج. لمزيد من المعلومات حول هذا النوع من الاستثمار تأكد من التحقيق في قواعد بيانات الرابطة الوطنية للعقود الآجلة و كفتك. وستقوم الشركات بتقديم طلبات بيع خادعة ومضللة وعالية الضغط. وكثيرا ما يفشل مديري المدارس في الإشراف على الموظفين والوكلاء في سلوك أنشطتهم الآجلة للسلع الأساسية. أنها تجعل خادعة، مضللة وغير متوازنة مبيعات العطاءات زد حسابات العملاء وتفشل في التمسك بمعايير عالية من الشرف التجاري والمبادئ العادلة والعادلة للتجارة. حث الناس على الاستثمار دون تسجيلهم. الانخراط في ممارسات التماس الاحتيال. وهم يرتكبون الغش فيما يتعلق بشراء وبيع العقود الآجلة للسلع وعقود الخيارات لحسابات العملاء من خلال تقديم بيانات كاذبة أو خادعة أو مضللة أو إهمال للحقائق المادية. وهم يرتكبون الاحتيال عن طريق تحويل حسابات العملاء بطريقة منتشرة وواسعة النطاق لتوليد عمولات، دون مراعاة الهدف التجاري للعملاء الذين يقدمون بيانات احتيالية تتعلق، من بين أمور أخرى، باحتمالات الأرباح في العقود الآجلة للسلع التجارية وعقود الخيارات، وخطر الخسارة ، والتجربة والنجاح التجاري لشركتهم ومندوبي المبيعات. جعل التواصل مع الجمهور الذي يعمل بمثابة الاحتيال أو الخداع. (1) و 4 ب (أ) '3' و 4 ج (ب) من القانون، والفصلين 33 و 7 (و) من المادة 4 (ب) من القانون، أو بشكل مباشر أو غير مباشر. )، و 33.10 من لوائح كفتس التي تنطوي على الغش أو الاحتيال أو محاولة القيام بذلك، أو خداع عمدا أو محاولة القيام بذلك فيما يتعلق بأي أمر من السلع الأساسية أو العقد، و (2) ينتهك القسم 166.3 من لوائح كفتس عن طريق الإخفاق في الإشراف بجد التعامل مع حسابات السلع الأساسية. فهم لا يثبتون بأدلة واضحة ومقنعة بأن تسجيلهم لن يشكل أي خطر كبير على الجمهور. وهم ينخرطون في أعمال وممارسات تنتهك قانون بورصة السلع ولوائح الاتحاد. وهم يدليون ببيانات خاطئة عن وثائق تسجيلهم المودعة لدى لجنة التجارة الحرة من خلال عدم إدراج مديري الشركة بسبب جزء من حصتهم المالية المسيطر عليها في الشركة. فهم لا يشرفون بجد على التعامل مع العملاء العقود الآجلة للسلع وحسابات السلع الخيار عن طريق عدم رصد طلبات المبيعات من قبل مندوبي المبيعات، وإرشاد مندوبي المبيعات إلى تحريف الحقائق المادية لحث العملاء على الانخراط في ممارسات التداول تهدف إلى تعظيم العمولات. ويوافق مسؤولو الشركة، دون قبول أو رفض أي ادعاءات، عادة على دخول أمر قضائي دائم يخلصون إلى أن شركتهم قد انتهكت أحكام مكافحة الاحتيال الواردة في لوائح سي و كفتك، وأقرتها بشكل دائم من المزيد من هذه الانتهاكات. ثم أنها مجرد مسح لائحة نظيفة وبدء شركة جديدة. وكثيرا ما تجد المحاكم سلوكا مزورا متعمدا ومنتظما ومتعمدا فيما يتعلق بانتهاكات القانون ولوائح لجنة مكافحة الإرهاب على مدى فترة طويلة من الزمن. وغالبا ما تستمر ممارسات البيع غير السليمة حتى بعد تقديم الإجراءات بموافقة المديرين والمشاركة الفعالة. وهي تنتهك القاعدة 2-29 (أ) (2) من اتفاق نفا من خلال استخدام نهج الضغط العالي مع الجمهور. وغالبا ما تشمل التحريفات: احتمال الربح وإمكانية الخسارة في خيارات السلع التجارية، وإمكانية تطبيق وأهمية بيان الإفصاح عن المخاطر الذي تقتضيه لوائح اللجنة، وخبرة الشركة وسمعتها في صناعة السلع الأساسية، ومعدل نجاحها في خيارات السلع التجارية، ووجود إدارة بحثية داخلية وموظفين من المحللين. فهي تشارك بشكل منهجي في تكتيكات مبيعات الضغط العالي، نموذجية لعملية غرفة المرجل، وبشكل روتيني تقديم بيانات كاذبة أو خادعة عند التماس العملاء. وهي توفر القليل من التدريب ل أبس لها بخلاف شحذ تقنيات المبيعات ذات الضغط المرتفع. وهم يشجعون بائعيها على تعظيم العمولات من خلال الضغط على عملائها وإقناعهم، من خلال تقنيات المبيعات ذات الضغط المرتفع والاحتيالي، لشراء خيارات غير مكلفة وبأسعار كبيرة من المال والتي نادرا ما تكون مربحة للعميل بعد العمولات. وعادة ما تتقاضى عملائها عمولة قدرها 175 لكل خيار لشراء خيار مع رسوم عمولة قدرها 75 لتعويض معاملة الخيار. ويتمثل الهدف الأسمى لعملية البيع في زيادة دخل العمولة إلى أقصى حد من خلال زيادة عدد الخيارات التي يشتريها العملاء إلى أقصى حد وبتحريف الربح المحتمل للخيارات المشتراة للعملاء. وتضمنت حسابات الخيارات العديدة صفقات تجاوزت فيها نسبة العمولة إلى قسط التأمين 100 في المائة، وأن أغلبية الزبائن يدفعون ما بين 40 و 60 في المائة من أموالهم الاستثمارية للعمولات. وهم يشجعون مثل هذه اللجان العليا من قبل المديرين التنفيذيين حساب مجزية ماليا تستند فقط على حجم الخيارات التي تم شراؤها، وعن طريق تثبيط أو حظر شراء خيارات أكثر تكلفة. وهي تحقق هدفها المتمثل في تعظيم دخل العمولات من خلال تشجيع شركاتها على تحريف ربحية الخيارات التي يتم تسويقها من قبلها، وإساءة تفسير تأثير هيكل العمولة على إمكانات الربح للخيارات التي يتم تسويقها للعملاء. على سبيل المثال، ادعت شكوى واحدة أن شركة واحدة تداولت أكثر من 2،800 من حسابات العملاء خلال فترة 3 12 سنة وأن أكثر من 90٪ من هؤلاء العملاء فقدوا كل أو معظم أموالهم، في حين أن الشركة جمعت 12.8 مليون عمولة. وزعمت هذه الشكوى أيضا أنه في غضون خمسة أشهر فقط كان لدى الشركة 1،126 حسابا تجاريا متداولا بشكل نشط، وكانت هذه الحسابات قد بلغت خسائرها الإجمالية حوالي 5،5 مليون دولار وسددت عمولات إجمالية بلغت حوالي 2،6 مليون حساب، وهو ما يمثل 48 في المائة من صافي الخسائر . وتدعي شكوى أخرى مقدمة من شركة التجارة الحرة أن إحدى الشركات تعاملت في فترة اثني عشر شهرا تقريبا بحوالي 988 حسابا للعملاء، مما أدى إلى توليد 3.16 ملايين عمولة بينما فقد العملاء أكثر من 7 ملايين عميل. ومن بين حسابات العملاء التي تمت معالجتها في هذه الفترة، فقد 97 في المائة من جميع حقوق الملكية أو كلها تقريبا. وخلال فترة خمسة أشهر، تعاملوا مع ما يقرب من 019 1 حسابا، أسفرت عن إنشاء 2،2 مليون حساب في العمولات، مما أدى إلى فقدان 83 في المائة من عملائها جميع حقوقهم أو كلها تقريبا بمبلغ إجمالي قدره 5،2 مليون جنيه استرليني. وتعمل إعلاناتها الإذاعية كاحتيال وخداع، وهي تخلق وتبث بتجاهل تام للحقيقة. عند توجيه املديرين تقوم الرشكات مبمارسة سلوك متعمد من أجل احتيال العمالء وخداعهم. ضرائب الغش بالعمالت األجنبية التي تمثل العمالء والعمالء المحتملين: - ضمان حصولهم على أرباح نتيجة لالستثمار في خيارات السلع األولية - أن خيارات السلع التجارية هي خالية من المخاطر تقريبا، وأن وثائق اإلفصاح مطلوبة أو عن طريق تنظيم لجنة مكافحة الإرهاب غير هامة أو ذات أهمية ضئيلة، أو كلمات بهذا المعنى. إغفال إبلاغ العملاء والعملاء المحتملين: - أن الزيادة الموسمية في الطلب على سلعة معينة، مثل زيت التدفئة والبنزين الخالي من الرصاص، في حد ذاته، لن يؤدي بالضرورة إلى زيادة قيمة الخيار على سلعة معينة، - أن الاتجاهات السابقة في أسعار العقود الآجلة على سلع محددة لا تتوقع بالضرورة الربحية الحالية للخيارات على العقود الآجلة على تلك السلع - أن أخبار السوق المعروفة حاليا لا تعني بالضرورة أن العميل سوف كسب المال عن طريق التداول من خلالهم كما السوق المعروفة حاليا فإن األخبار عادة ما تؤخذ في االعتبار بالفعل في األسعار اآلجلة الكامنة، فضال عن قيمة الخيار - أنه، باستثناء الخيارات الممكنة في المال، فإن ارتفاع سعر العقد اآلجل ال يرتبط عادة برسم سعر مستقبلي واحد، نسبة واحدة إلى واحدة مع ارتفاع في سعر خيار على ذلك العقد الآجل، - أن أوامر وقف الخسارة ليست دائما فعالة في الحد من مخاطر الخسارة، - أن تنويع اختيار لا تقتصر مواقف الأيونات بالضرورة على الحد من مخاطر الخسارة أو زيادة الأرباح المحتملة لكل موقع شراء تم شراؤها، و - أنه في ظل ظروف سوق معينة، قد يجد العميل أنه من الصعب أو المستحيل تصفية المركز منذ ظروف السوق في البورصة حيث الطلب يتم وضعها قد يجعل من المستحيل لتنفيذ تصفية الموقف. فهم يفشلون في الحصول على معلومات العملاء بطريقة سليمة. وهي تفشل في الإبقاء على مبلغ رأس المال الصافي المطلوب بموجب لوائح اللجنة، وإخفاقها في إخطار اللجنة بذلك وعدم الاحتفاظ بالكتب والسجلات الحالية. بعض شركات الفوركس الاحتيالية تلتمس من العملاء أن يتاجروا في إستراتيجية الخيارات المعروفة باسم كوتبوتراي سبريادسكوت على بينة من التأثير السلبي المستمر للاستراتيجية على قدرة العملاء على كسب المال على المدى الطويل. وهي تخدع عملاءها عن طريق وضع أوامر شراء وبيع مطابقة لعقود الآجلة في البورصات الأمريكية. ثم يقوم بتخصيص الصفقات لحسابات معينة لخلق نمط المطلوب من الأرباح والخسائر. وهم يضعون أوامر لشراء وبيع نفس الكميات من نفس العقد بأسعار مماثلة أو متطابقة تقريبا. هذه الصفقات عادة ما يتم تعويضها من قبل شركة أخرى، كما الصفقات اليوم في تبادل المعلومات، ولكن مع ذلك المدرجة ك كوبينكوت في حسابات فرعية منفصلة عقدت في اسم شركة واحدة. ثم يصدرون بيانات التداول التي ذكرت زورا هذه الصفقات يوم مغلقة كما تبقى مفتوحة. وتستخدم الشركة الواحدة هذه البيانات لإبلاغ زورا عن الأرباح والخسائر للعملاء عن طريق مطابقة المراكز الطويلة والقصيرة من مختلف الحسابات الفرعية وتقديم تقارير زائفة إلى العملاء بأن هذه الصفقات كانت تعادل بعضها بعضا. ويؤكدون بشكل زائف وخادع تنفيذ بعض المعاملات الاحتيالية من خلال اقتراح أن المشتريات والمبيعات المدرجة جنبا إلى جنب في التأكيد تعادل بعضها بعضا، عندما، في الواقع، فهي صفقات غير ذات صلة. وهي تشتري لحسابات العملاء، ومعظمها من الخيارات الاختيارية، وهي مواضع اختيار الفراشات، التي تقيم الشركات رسوما قدرها 180 لكل خيار. وتتكون فراشة الفراشة من أربع قطع أو دعوات (اثنان من شراء وشراء اثنين)، مما أدى إلى أربع لجان لكل موقف فراشة الخيار، أو 720 لكل انتشار. لجنة 720 هو بالإضافة إلى 12 في المئة من الأسهم، رسوم مقدما اتهم. جنبا إلى جنب مع هيكلية اللجنة، كما أنها تضع سياسة لتقليل كمية من أموال العملاء الملتزمة بالسوق كما قسط من خلال شراء أقل تكلفة الاقتباسات من-مونيكوت المواقف. واستخدمت استراتيجية التداول في فراشة التداول وهيكل العمولة لتحل محل رسوم مسبقة بنسبة 40 في المئة مقدما و 60 في لجنة خيار الدوران بعد أن نظرت المحاكم الألمانية مع الاستياء من الرسوم الأمامية الكبيرة التي يتقاضاها الوسطاء وكانت تمنح تعويضات للعملاء المشتكين . وقد أدى ذلك إلى تخفيض الرسوم الأولية إلى 12 إلى 13 في المائة، وضاعف عمولة الخيار الواحد إلى ثلاثة أضعاف، وسمح لهم ببدء تداول فراشات الفراشات لحسابات العملاء التي كانت في معظمها تقديرية. إن استراتيجية التداول الاحتيالية تجعل من المستحيل عمليا للعملاء كسب أرباح من استثماراتهم نظرا لهيكل العمولة واستراتيجية التداول المستخدمة. في الواقع، انتهت تقريبا جميع الصفقات الفراشة انتشار دون قيمة، أو تم ممارسة وتعيين نتيجة مالية من الصفر. وبلغ مجموع الخسائر التي تتألف من عمولات وأقساط ل 339 عميلا في حالة واحدة حوالي 5.6 مليون، منها حوالي 4.8 مليون، أو 86 في المائة، تعزى إلى العمولات (باستثناء رسم 12 في المائة المخصوم). 0998 - قدم المجلس الأعلى للتعليم شكوى وحصل على إغاثة طارئة تتضمن فت. شركة لوديرديل، إدارة رأس المال الدولية. (إيسم) التي طلبت من المستثمرين المزاعم بأنهم سيستفيدون من برنامج صرف العملات الأجنبية. ووفقا للشكوى، استخدمت إيسم تكتيكات مبيعات تسويقية عالية الضغط من طراز "كومبويلر-رومكوت" لرفع ما يقرب من 18 مليونا من أكثر من 1600 مستثمر من أكتوبر 1997 إلى أوائل سبتمبر 1998. وقالوا للمستثمرين أنه يمكنهم الحصول على عائدات من 3-6 في الشهر وإرسالها وهمية بيانات الحسابات الشهرية التي أظهرت أرباحا متسقة. كما قال إيسم للمستثمرين أن 80 من أموال المستثمرين ستحتفظ بها في حساب مصرفي، والباقي 20، والتي سيتم استخدامها في برنامج التداول بالعملة الأجنبية إيسم، من الحماية من الخسائر الكبيرة من خلال استخدامها المزعوم من كوتستوب-فالكوت النظام على كل التجارة. كل هذه التصريحات كانت خاطئة حيث أن التداول بالعملات الأجنبية ولدت خسارة صافية للمستثمرين، لم تحتفظ إيسم 80 من أموال المستثمرين في الحسابات المصرفية، كما أنها لم تستخدم أوامر كوتستوب-لوسكوت على جميع الصفقات. وادعى المجلس أيضا شركة وورلدكورب تريدرز أمب Co. Inc. (ورلدكورب) كمتهم متهم بالإغاثة، مدعيا أن إيسم قد نقل ما لا يقل عن 10 ملايين دولار إلى وورلدكورب. التي استخدمت على الأقل بعض هذه الأموال للتجارة بالعمالت الأجنبية. قامت هيئة الأوراق المالية والبورصات بتجميد جميع أصول إيسم وأصول ورلدكورب التي تم توفيرها من قبل إيسم. وافقت إيسم على أمر قضائي دائم ضد الانتهاكات المستقبلية لأحكام مكافحة الاحتيال في قوانين الأوراق المالية الاتحادية ووافق على تعيين جهاز استقبال. وقد استرد المتلقي نحو 5.2 مليون شخص، وقام بتوزيع أولي على أكثر من 1600 مستثمر ودائني يبلغ عددهم نحو 3.3 مليون شخص، يمثلون 19.6 من مطالباتهم، ويواصلون اتخاذ إجراءات ضد المدعى عليهم الآخرين. وفي 6 يوليو / تموز 2001، يواجه جاريد دارجينيو الذي يرتكب جريمة التآمر لارتكاب عمليات احتيال بالبريد والاحتيال على السلك عقوبة قصوى تصل إلى خمس سنوات في السجن الاتحادي. في وقت لاحق من العام نيلسون N. شيمباري مذنب في واحدة من التآمر لارتكاب الاحتيال البريد والاحتيال الأسلاك ويواجه خمس سنوات كحد أقصى. وأدان كين طرابلس مذنبا في أحد مؤامرات التآمر لارتكاب عمليات احتيال بالبريد والاحتيال على الأسلاك، وواحد من عمليات غسل الأموال ويواجه عقوبة قصوى تبلغ عشرين عاما. لاري طرابلس مذنب في واحدة من التآمر لارتكاب الاحتيال البريد والاحتيال الأسلاك ويواجه عقوبة أقصاها خمس سنوات. العمل المدني No.98-7062-CIV - ديمترولياس نظام تداول العملات الأجنبية مماثلة، مفاهيم المالية الفريدة. وشركة أيضا من قبل المجلس الأعلى للتعليم. 0999 - أنتوني بالدوين وإدارة العملات العالمية. زعم أنه قام بحياثة أكثر من مليون شخص من المستثمرين الذين يعتقدون أن مواده الترويجية تشير إلى أنه كان لديه سجل ملحوظ ومعترف به من العوائد المربحة باستمرار، حيث بلغ متوسطه نحو 5 أشهر شهريا في تعاملاته بالعملات الأجنبية. وطمأنتهم كشوف حسابات شهرية خاطئة وصفت الاستثمار بأنها آمنة ومربحة، أن الضحايا لم يكونوا على دراية بأنه قد فقد بالفعل كل أموالهم تقريبا في التداول على الرغم من خبرته السابقة في إدارة رأس المال الدولية أو ربما بسبب خبرته السابقة. (انظر أعلاه) ووافق على الأمر الصادر عن لجنة الأوراق المالية والبورصات الأمريكية ولكن لم يكن مطلوبا منه رده بسبب عدم قدرته على الدفع. وهناك عدد قليل من العمليات الحالية تستخدم أسماء شركة السلمون تشيس الدولية، وشركة جيبسون ريد وأول شركة الفوركس القابضة. في 1 يناير 2002، بدأت الدول الأوروبية باستخدام اليورو الجديد. ولم يحدث من قبل أن اتحد الكثير من البلدان ذات الاقتصادات القوية لاستخدام عملة واحدة. الحصول على قطعة من التاريخ الخاص بك الآن نود أن نرسل لك اليورو مجانا وتقرير مجاني عن العملة العالمية. مجرد زيارة موقعنا لطلب اليورو واليورو تقرير: بالإضافة إلى تقرير عملتنا، يمكنك الحصول على حزمة الاستثمار الحر لدينا: تعلم كيف 10،000 في الخيارات سوف تستفيد 1،000،000 في اليورو العملة. وهذا يعني حتى حركة صغيرة في السوق لديها إمكانات ربح ضخمة. إذا كنت فوق سن 18 ولديها بعض رأس المال المخاطر، من المهم أن تعرف كيف سيغير اليورو العالم الاقتصادي وكيف يمكن أن تستفيد 10،000 الاستثمار الحد الأدنى الاستثمار في الفوركس العملات الخيارات هو المضاربة وتشمل درجة عالية من المخاطر. يمكن للمستثمرين وفقدان المال. 1002 - شركة إمف هولدينغز، إنك.، الشركة العقارية في سيبو ومانيلا في الفلبين وهونغ كونغ (مع خطط للتوسع في سنغافورة واليابان) متخصصة في تداول العملات (ين مقابل الدولار)، على الرغم من أنها تحتفظ أيضا بوفورات مختلفة و والتحقق من الحسابات بالدولار والبيزو في مختلف المصارف الدولية. على الرغم من أن الشركة صغيرة، إدغر فيجر، المالك، ويقول انه لديه خبرة كبيرة في التداول، وبينما يبدو أن تملك 80 من الشركة، لسبب ما، لا يظهر اسمه في أي من وثائق التسجيل، وخاصة مع المجلس الأعلى للتعليم هناك. ويبدو أن المستثمرين أصبحوا دائنين الذين يقرضون أموال الشركة بوعد 20 عائد كل 30 يوما. يجب على المتداولين تجميع ما يكفي من الأموال المقترضة للوصول إلى حجم العقد إما بالين أو الدولار من أجل تخصيص حصة قبل أن يحصلوا على الرواتب. إمف هولدينغز Inc. فيدمان بيلدينغ، سالسيدو St. ماكاتي سيتي 802-A برج كيبيل سيبو بيزنس بارك، مدينة سيبو، الفلبين إمف إنفستمنت لت وحدة 1808 مركز التمويل الدولي واحد، هك إمف هولدينغز، إنك. RRN20020726083651362 إمف هولدينغز، إنك. RRN20020726085816947 إمف مولتي - SYSTEM ماناجيمنت أند هولدينغز كوربوراتيون، RRN02169101937 سيفون الحنفية إيقاف كا - 111503 - ونيونتريب - أدينت لجنة تحكيم اتحادية أمس اثنين من رجال سان دييغو بتهمة البريد والاحتيال الأسلاك المتعلقة مخطط بونزي ظاهرا عمل الزوج من مكاتب لا جولا. تم توجيه اتهام إلى ويليام إف مكراي وبول ييتس في أغسطس / آب 2000 بتهمة إغراء الجمهور لاستثمار 30 مليون دولار في فوركس إنترناشونال و إيرثويس إنترناشونال. وهما شركتان يزعم أنهما يتاجران بالعملة الأجنبية. وقال الادعاء ان الاثنتين طالبا العملاء بمزاعم احتيالية بعوائد سنوية عالية على حسابات تداول العملات هذه، وقالوا زورا للمستثمرين إن أموالهم مؤمنة وتحتفظ بالثقة لدى أحد البنوك. وبالإضافة إلى ذلك، قال المدعون العامون إنهم أبلغوا الضحايا الذين استثمروا بأن حساباتهم تحقق عائدات إيجابية كبيرة، في حين أنهم في الواقع يحصلون على أموال مستثمرة جديدة. وقال الادعاء ان ماكراى قام ايضا باخراج 5.8 مليون دولار من اموال المستثمرين ووضعها فى حساب بنك برمودا واستخدامها لشراء شقة سكنية وسيارة رياضية فاخرة. وأدين ييتس ب 12 تهمة احتيال البريد وست تهم التزوير الأسلاك. وقال المدعي العام انه يواجه ما يصل الى 90 عاما في السجن وغرامات قدرها 4.5 مليون. وأدين ماكراي بخمس تهم تتعلق بغسل الأموال، واثنين من التهم بإيداع إقرارات ضريبية كاذبة، وأحد التآمر للتهرب من الضرائب لإخفاء أكثر من مليون شخص من الدخل من دائرة الإيرادات الداخلية على مدى ثلاث سنوات. كما ثبتت إدانته بأربع تهم تتعلق بالشهادة الزور لشهادته في إجراءات الإفلاس في فوركس الدولي، حيث نفى أن الشركة كانت مرتبطة ب إيرثويس إنترناشونال. ويواجه مكراى عقوبة قصوى تصل الى 101 عاما فى السجن وغرامة قدرها 10.5 مليار، وفقا لما ذكره الادعاء. ومن المقرر إصدار الحكم على الزوج في شباط (فبراير). ووجدت هيئة المحلفين أيضا أن 5.8 مليون مكراي السلكية لبنك برمودا والسيارة كانت أصولا تتعلق بتهم غسيل الأموال. وقال الادعاء ان هذه النتيجة قد تؤدى الى مصادرة الحكومة الامريكية. رجل ثالث اتهم في المخطط، توني D. أورتيغا. اعترف في وقت سابق من هذا العام بتهمة التآمر للتهرب من الضرائب. ومن المقرر ان يحكم عليه الشهر المقبل. (دبي غروب نيوس) دبي: أعلنت هيئة دبي للخدمات المالية يوم الخميس أنها خرقت عملية احتيال تداول العملات العالمية. دعت عملية احتيال المستثمرين في أستراليا وسنغافورة لوضع أموالهم في كيانات وهمية ادعى أنها مقرها في مركز دبي المالي العالمي (ديفك). وقد ألقي القبض في دبي على أحد المنظمين المزعومين الذين اتصلوا بمستثمرين محتملين يستخدمون رقم هاتف إماراتي. واتصل ما لا يقل عن ستة من ضحايا الاحتيال بمنظمة مركز دبي المالي العالمي، مما أدى إلى تحقيق لمدة أربعة أسابيع. وقال ديفيد نوت الرئيس التنفيذي لسلطة دبي للخدمات المالية: "لا يمكننا أن نكون متأكدين من حجم هذه الفضيحة أو خسائر المستثمرين، ولكننا نعلم أن ما يقرب من 600 ألف مر عبر حساب مصرفي أنشأه هؤلاء المحتالين في ماليزيا". وقد قامت هيئة دبي للخدمات املالية بالتعاون مع هيئة اإلمارات لألوراق املالية والسلع واملنظمين املعنيني بالسوق من ماليزيا وبريطانيا والواليات املتحدة وسنغافورة بإجراء التحقيق. عمل المضرب ثلاثة كيانات وهمية تسمى بورصة دبي للأوراق المالية ومجلس الإمارات للسلع الآجلة وشركة كامبريدج كابيتال للتجارة. جميع المطالبين بتقديم خدمات داخل مركز دبي المالي العالمي. استخدم المحتالون مزود خدمة الإنترنت في الولايات المتحدة. استدعى المستثمرون الأستراليون وسنغافوريون باردة من قبل ممثلي شركة كامبردج كابيتال للتجارة لاتخاذ خيارات بشأن تحركات العملات. ثم تم توجيه المستثمرين إلى المواقع الكاذبة وقالوا لتحويل الأموال إلى الحساب المصرفي في ماليزيا. فلوريدا هي خصبة لاحتيال العملات الأجنبية 0206 - عندما نظرت محققون من لجنة تداول السلع الآجلة في الحسابات المصرفية لازارو خوسيه رودريجيز، قالوا أنهم وجدوا أنه في شهر واحد كان قد سحب أموال تداول العملاء لقضاء 173251 على اثنين من شيفروليه كورفيتس. وفي قضية منفصلة، ​​رفعت الشركة في ديسمبر دعوى قضائية ضد رجل كورال سبرينغز والشركات التي كان يديرها، زاعمة أنها احتلت 14 مليون شخص على الاحتيال من قبل ما لا يقل عن 140 شخصا بزعم أنهم حققوا أرباحا كبيرة تتداول في العقود الآجلة للعملات الأجنبية. وسوف يكون الاحتيال على السلع، وهو مشكلة متنامية فى جنوب فلوريدا وعبر البلاد، موضوع نقاش عندما يجتمع قادة الصناعة فى المؤتمر السنوى لرابطات صناعة العقود الآجلة الشهر القادم فى بوكا راتون. وعلى الرغم من عدم وجود إحصاءات موثوقة عن الاحتيال على السلع الأساسية حسب المنطقة الجغرافية، وتشمل العديد من الحالات المشتبه فيهم من مناطق مختلفة، فإن الإجماع على الصناعة هو أن جنوب فلوريدا تفوق بقية البلاد. وقال جريجوري ان مجموعة من العديد من اشجار النخيل والمترجمين الهاتفيين والبنوك الهاتفية والمتقاعدين المتقاعدين ومحامين الدفاع عن التسويق عن بعد وقريبة من فلوريدا فلوريداس القريبة من الولايات القضائية الأجنبية يجعلها مغناطيسا لأولئك الذين يريدون كسب معيشتهم بسانهم وهاتف موسيك، مدير إنفاذ ل كفتك، الذي يسيطر على بيع السلع الآجلة والخيارات. كوتور قليلا بنما جاك النفط سونتان على الوضع وكان لديك بيئة مثالية حيث يحصل المستثمرون حرق. كوت في دعوى رفعت في وقت سابق من هذا الشهر، زعمت الشركة أن مقرها ميامي رودريجيز قد أحرقت حوالي 400 مستثمرين لما مجموعه 1.5 مليون بعد واعدا لهم أرباح التداول بنسبة 300 في المئة. لم يتم الوصول إلى رودريجيز للتعليق عليه. من بين الاتجاهات التي تجدها كفتك في جنوب فلوريدا: عمليات التداول هي العملاء الزائدة عن طريق مطالبتهم بدفع كل من لجنة وما يسمى انتشار، أساسا لجنة أخرى. وبدأت بعض غرف المرجل في البحث عن المستثمرين للذهب، وهو أمر جذاب لأنه ارتفع بنسبة 26 في المئة في العام الماضي. ومع نمو الانترنت، يشهد المنظمون ايضا المزيد من عمليات التداول عبر الانترنت التى تقدم عقود صرف العملات الاجنبية غير المشروعة ومن ثم اساءة استخدام الاستثمارات التى يتلقونها. ويقول بعض خبراء الصناعة إن تاريخ فلوريداس الجنوبي كمركز للغرف التسويقية للمراجل يجعل من السهل على المحتالين التحرك بسرعة إلى سلع مثل العملات عندما يصبح السوق ساخنا. كان كوتسوث فلوريدا السلع الخيارات رأس المال الاحتيال في العالم في أوائل إلى منتصف 1980s، وقال روبرت واين بيرس، وهو محامي بوكا راتون متخصصة في السلع وقانون الأسهم. في التسعينيات، قام مسؤولون اتحاديون ومسؤولون حكوميون بالوقوف على غرف المرجل، وهدأت أسواق السلع حيث تحول المستثمرون الأموال إلى سوق الأسهم. ولكن مع ارتفاع أسعار السلع مثل الذهب والنفط والنحاس والبلاتين ارتفاعا حادا في العام الماضي، أصبح المستثمرون أكثر اهتماما في عالم مقصور على فئة معينة من العقود الآجلة والخيارات التجارية. كورتات يعطي الفرص ل هاكستيرس هناك، كما قال بيرس. وأحد المؤشرات الجيدة، وإن كان غير علمي، هو أن إعلانات التدريب على تجارة السلع الأساسية بدأت تظهر بشكل متكرر في الصحف وغيرها من وسائل الإعلام. السلع هي السلع المادية، مثل المعادن والأغذية والحبوب والعملات. وعادة ما يشتريها المستثمر من خلال عقد مستقبلي، أو اتفاق لشراء أو بيع مبلغ محدد من سلعة ما في وقت محدد سلفا. العقود الآجلة هي التزام تجاه المشتري والبائع. ويختلف عقد الخيارات باختلاف التزام البائع وحده. واضاف موتشيك انه على الصعيد الوطنى، جمع الاتحاد حوالى 300 مليون شخص فى رد الممتلكات والعقوبات فى 85 حالة فى السنوات الخمس الماضية. وكان حوالي 000 24 شخص ضحايا في تلك الحالات. ولكن جون دامغارد، رئيس رابطة صناعة العقود الآجلة، يعتقد أن العقوبات - عادة تعليق، الغرامات أو النفي من هذه الصناعة - عرق قاسية بما فيه الكفاية. وقال دامجارد ان اكبر مشكلة ليست الشركات التى تتاجر فى التبادلات، بيد ان المجرمين يجرون صفقات تجارية تتظاهر بانها شرعية. وفى جنوب فلوريدا، يتعين على اللجنة العمل بشكل وثيق مع مسئولى تنفيذ القانون ومكتب محامى الدولة لضمان دخول المجرمين السجن. وليس لدى لجنة التجارة الحرة هذه السلطة. ويقول خدعة قاسية لجعل كفتك الوكالة الرائدة في وضع هؤلاء الرجال في سلامر، وقال دامجارد. وقال إنه يود أن يرى مدعيا عاما في ولاية فلوريدا يحتج على محتجين من المحتجين على الطريقة التي وجه بها النائب العام في نيويورك إليوت سبيتزر تحديا لشركات وول ستريت في المحكمة. وقال موسيك ان اللجنة افتتحت مكتبا للإنفاذ التعاوني منذ اكثر من ثلاث سنوات وتتعاون مع مكتب التحقيقات الفدرالي ومكتب المدعي العام للولاية والمدعين العامين المحليين. ولكن موسيك يعرف أنه طالما أن الطقس هو مقبول، سوف السلع المحتالين جعل جنوب فلوريدا المنزل. هناك عدد من الناس، كما قال، كوتاو بدلا من ذلك أن تفعل ذلك من بقعة دافئة بدلا من الجلوس على icecap. quot رد أمر في قضية الغش الاستثمار في العملات الأجنبية 0306 - فلوريدا - سبعين الضحايا في عملية احتيال الاستثمار قد تحصل على فرصة لتعويض خسائرهم. وقال النائب العام تشارلي كريست اليوم الجمعة ان ديفيد الان لوغر من بوكا راتون امر بدفع مبلغ 2،2 مليون دولار كرد على ضحايا ما أسمته الدولة بالاحتيال الاستثماري الذي تبلغ قيمته عدة ملايين من الدولارات. كما امر لوجر بالحبس لمدة 13 عاما. وقد أدين في قضية تمت ملاحقتها من قبل المكتب القضائي للمحاكمات على مستوى الولاية. قام لوجر، الذي تمت محاكمته بسبب أدوار إدارية في ما أسمته الدولة بعمليات عدة لغلايات المرجل، بإدارة ما أسماه المدعون العامون بحلقة غش الاستثمار التي ضربت فلوريديين كبار السن، ووعدت بعوائد عالية في سوق العملات الأجنبية. وبدلا من استثمار الأموال، قال المدعون العامون إن لوغر وشريكه أبقيا الأموال لاستخدامهما الشخصي. وقالت الدولة ان الكثير من ضحايا لوجيرز فقدوا مدخراتهم التقاعدية فى عملية احتيال. كانت غرف المرجل تعمل من عام 1999 إلى عام 2003 تحت اسم الشركة أوسفكس كورب وشركة فوركس العالمية. تم القبض على لوغر في عام 2001 لدوره في عملية احتيال، ولكن بعد ذلك قال المدعون العامون انه بدأ عملية أخرى، تسمى المجموعة 24، أثناء خدمة الإقامة الجبرية في بوكا راتون. وقالت الدولة ان احد المتواطئين حاليا هو هارب دولى. وقال كريست ان الذين سرقوا من كبار مواطنينا لتحقيق مكاسبهم الشخصية سوف يحاكمون الى اقصى حد من القانون. كوتلوريديان يمكن أن تطمئن إلى أنها سوف تكون محمية من هذه الشخصيات عديمي الضمير. كوت أجرت إدارة شرطة بوكا راتون ومكتب شريف مقاطعة بروارد التحقيق. وأدين لوجر في يناير كانون الثاني على التهم من الابتزاز والسرقة الكبرى والمعاملات الاحتيالية والاحتيال التسويق عبر الهاتف. حكمت محكمة مقاطعة بالم بيتش كريستا ماركس أمس على لوغر. جنوب فلوريدا الأعمال مجلة ريتشموند رجل يواجه ما يصل إلى 120 عاما لمخطط الغش المدرسة العملات الأجنبية 1206 - (أب) ريتشموند، فا - رجل ريتشموند البالغ من العمر 22 عاما اتهم الغش أكثر من 350 مستثمر من أصل حوالي 8.3 مليون اعترف مذنب الأربعاء إلى البريد الاحتيال وغسل الأموال. يواجه جيمس ايه براون الابن 120 عاما كحد اقصى فى السجن وغرامة تصل الى 16 مليونا فى كل حالة عندما يحكم عليه قاضى المنطقة الامريكية ريتشارد وليامز يوم 14 مارس وفقا لما ذكره الادعاء الفيدرالى. تم القبض على براون فى سبتمبر بعد تحقيق أجراه مكتب التحقيقات الفيدرالى ومكتب التفتيش البرى الامريكى ودائرة الإيرادات الداخلية. واتهمت السلطات بان براون، مالك ورئيس شركة براون للاستثمارات، وعد المستثمرين باستطاعتهم مضاعفة اموالهم كل 30 يوم عمل من خلال التداول فى سوق صرف العملات الاجنبية. The investment program, which Brown promoted at classes and seminars, was bogus. Little of the money was invested, and Brown paid early investors with cash coming in from subsequent investors to lull them into believing the investments were paying off as promised. Brown used the money to finance a lavish lifestyle, including a 2.9 million fleet of luxury automobiles for himself and his employees. According to prosecutors, of the 8.3 million Brown obtained from investors, he only invested 484,000 in the foreign currency market, losing about 61,000. Only about 700,000 remained in the companys bank account when Brown was arrested. Forex trading educational center taught victims how to lose money 0807 - California - Joel Nathan Ward, 48, of Turlock, has pleaded guilty to charges related to swindling millions of dollars out of trusting investors. Mr. Ward, a frequent commentator and seminar speaker on foreign currency exchange (8220forex8221) trading, ran an elaborate scam through two of his companies, the Joel Nathan Forex Investment Group of Turlock and Learn: Forex Inc. a forex trading educational center based in Sacramento, federal prosecutors say. A federal grand jury indictment alleged that as part of the scheme, Mr. Ward offered investors the opportunity to invest in the foreign exchange interbank 8220spot8221 market through his fund, the Joel Nathan ForexFund. Many of the victims were family members, close friends, and individuals who had been enrolled in the Learn: Forex program, either in Sacramento or through online classes. Mr. Ward required a minimum 50,000 investment, and told investors they could anticipate significant returns. The indictment also charged Mr. Ward with defrauding investors in a second scheme relating to a purported real estate investment project in Mississippi. He was alleged to have simply diverted investors funds to his own use. In pleading guilty Friday, Mr. Ward admitted that he stole the investors8217 funds, using the money for his own compensation and expenses, and to purchase the Learn: Forex School in Sacramento. He also admitted that in order to conceal the theft, he made 8220Ponzi8221 payments using other investors8217 funds and provided his investors with altered account statements. The scheme collapsed in November 2006. The investor victims lost over 7 million. quotWard used his self-proclaimed expertise in foreign currency trading to steal millions of dollars from family, friends, employees, and other investors. While he claimed to be a highly successful trader, in fact he was merely a thief,8221 says U. S. Attorney McGregor Scott. The guilty pleas were entered to five counts of wire fraud, two counts of mail fraud, and two counts of engaging in monetary transactions in property derived from specified unlawful activity, a form of money laundering, according to Assistant U. S. Attorneys Benjamin Wagner and Ellen Endrizzi, who are prosecuting the case. There was no plea agreement in the case, and Mr. Ward is to be sentenced Nov. 2. The maximum penalty under federal law for each offense of wire fraud and mail fraud is 20 years8217 imprisonment, a three-year term of supervised release, and a 250,000 fine. The maximum penalty for each offense of money laundering is ten years8217 imprisonment, a three-year term of supervised release, and a 250,000 fine. However, the actual sentence will be determined at the discretion of the court after consideration of the advisory Federal Sentencing Guidelines, which take into account a number of variables, and any applicable statutory sentencing factors. Central Valley Business Times Commodity Futures Trading Commission warns of a rise in foreign-currency trading scams. 0306 - They reach people, often retirees, through cold calls and television commercials. And they likely made off with 1 billion of stolen money in the last five years. Foreign-currency trading scam artists, thanks to their growing numbers, are the target of increased enforcement and education efforts by federal regulators. And a disproportionate number of them seem to have set up camp in South Florida, said Reuben Jeffery, chair of the U. S. Commodity Futures Trading Commission, at the Boca Raton Resort amp Club. Jeffery and other CFTC regulators said the Futures Industry Association has created a task force to attack the fraud problem that plagues the foreign-currency markets, which trade an average of 1 trillion a day. quotMost forex dealers are legitimate. But there are a growing number of scam artists, quot CFTC Commissioner Michae Dunn said. quotIts a black mark on the entire industry. quot He said scam artists have ripped off tens of thousands of Americans of all ages, though they primarily target retirees. In the 87 cases the CFTC has filed in federal court in the last five years alleging foreign-currency fraud, investors have lost a total of 380 million. Dunn estimates that investors lost 1 billion in that time to foreign-currency fraud. quotWeve got stories of people suffering from dementia and get these cold calls, quot said Dunn said. quotThere are also some very, very bright people who get scammed. quot With foreign-currency trading, investors buy currencies on the open market. They hope the currency theyre buying will rise in value more than the currency theyre using to buy it. The CFTC is working with state and local authorities to step up investigations and prosecutions in fraud cases. It is also trying to educate the public through an informational brochure, partnerships with consumer groups and town hall-style meetings hosted with the National Futures Association. The message, in large part, is that investors should be wary of unlicensed brokers offering deals that sound too good to be true. Investors should avoid high-pressure sales, confusing investments and brokers who encourage them to mortgage their home or cash out their retirement savings. Dunn also encouraged people whove been cheated to spread the word about fraud among their friends and neighbors. quotIm always amazed people are being defrauded and they dont tell anybody about it, quot he said. quotWe had a whole community ripped off that way. quot Investors who suspect fraud or want more information can visit cftc. gov. The National Futures Associations website, nfa. futures. org, also allows people to run background checks on brokers. Palm Beach Post Man given prison time in currency fund scam 0106 - California - A San Diego man was sentenced yesterday to five months in prison and five months house arrest for his part in a multimillion-dollar scam centered on a bogus foreign currency fund. Stephen Baere, who worked for Richard Robert Matthews at the La Jolla-based White Pine Trust Corp. was sentenced by San Diego federal Judge Jeffrey Miller. Baere is to surrender to federal authorities March 27. Matthews admitted last April to soliciting 22 million from 247 investors between 2000 and 2004 and then absconding with much of the money, according to court filings. He pleaded guilty to one count of mail fraud and was sentenced in December to more than five years in prison. He also was ordered to pay back more than 14.7 million to investors in the United States and abroad. Baere admitted to prosecutors in June that he misled hundreds of investors, but he said yesterday through his lawyer that he was unaware that the fund was bogus and that Matthews was making off with clients money. 8220He had no idea what Matthews was doing, and he was crushed when he found out,8221 said Colin Murray, Baeres attorney. Baere, who pleaded guilty to one count of conspiracy to commit mail fraud, told prosecutors that he worked for Matthews between January 2002 and December 2003. During that time, Baere told prosecutors that he gained between 400,000 and 1 million. In addition to the prison time, Miller yesterday ordered Baere to pay 600,000 in restitution. Tyler Zollinger, also associated with White Pine, is scheduled to be sentenced in February. Scammed forex investors may get some of their money back from crooks 0807 - About 100 investors in a securities scam 8211 most of them from Texas 8211 are a step closer to getting some of their money back after a court granted a summary judgment against the architect of the scam, the Securities and Exchange Commission said Thursday. U. S. District Judge Jane Boyle last week ordered Gerald Leo Rogers of Seattle to return 11 million and pay a fine of 120,000. In 2005, the court froze the assets of Mr. Rogers and his companies, Premium Investment Corp. TriForex International Ltd. and InForex Ltd. According to the SEC, Mr. Rogers is a twice-convicted felon whose criminal and securities fraud history spans nearly four decades. He started his latest scheme in 2004, shortly after being paroled from a 35-year prison sentence, the SEC said. According to the SEC, Mr. Rogers hired 140 sales agents to target mostly retirees with promises of quotguaranteed profitsquot and quotsafety of principalquot in covered-call options in foreign currency trading. quotRather than investing in these safe, covered-call transactions, Rogers, who believes hes a financial genius, invested millions of dollars in speculative trades, quot said Jeff Norris, the trial attorney for the Fort Worth SEC office in the case. quotIts one of the most clever and diabolical schemes that Ive seen, because Rogers created a program that made it extremely difficult for investors and even brokers to do due diligence, because everything was taking place overseas. quot Mr. Rogers parole has been revoked, and the 72-year-old is back in prison until 2015, according to the Bureau of Prisons Web site. The summary judgment should clear the way for the court-appointed receiver to start returning some of the victims money. quotIt looks like about 40 cents on the dollar, which is not really badquot in a case like this, Mr. Norris said. quotIf we hadnt caught this when we did, it could all have been gone. quot Dallas Morning News Forex Fraud Nets Conman Jail Time NEW YORK - 0208 - A New York man was sentenced to more than 12 years in prison Friday in connection with a foreign currency exchange scam that bilked more than 200 investors out of 6.5 million. The U. S. Attorneys office in Manhattan said Boris Shuster, also known as quotRobert Shuster, quot was sentenced to 150 months in prison at a hearing in U. S. District Court in Manhattan. U. S. District Judge Victor Marrero also ordered Shuster to forfeit 7.89 million and pay a 10,000 fine. Shuster, guiltyleaded guilty to conspiracy, 14 counts of wire fraud and 13 counts of mail fraud last June. Prosecutors had sought a sentence of 235 months to 293 months in prison, said Sarita Kedia, Shusters lawyer. quotWe do plan to appeal, quot Kedia said. Shuster was previously sentenced to 60 months in prison after pleading guilty to criminal charges in a separate forex scam in federal court in Brooklyn. He had remained free pending his sentencing in federal court in Manhattan, Kedia said. In the Manhattan case, prosecutors had alleged that Shuster and Alexander Dzedets operated a fraudulent forex firm named Holston, Young, Parker amp Associates in Manhattan. Dzedets, 32, and nine others have pleaded guilty to criminal charges in the quotboiler roomquot scheme, prosecutors said. Employees of the firm allegedly used false and misleading sales pitches and high-pressure sales tactics to convince people to invest in its purported forex trading program, the government said. Funds raised werent used to invest in the forex market, but were instead diverted to bank accounts in Cyprus and Russia, prosecutors said. The Refco Case: How 75 billion evaporated. The forex business has always had its dark side. A forex scam is nothing new, and most traders are aware that trading forex necessitates a basic acceptance of the risks involved in interacting with a broker. Still, the Refco case stands out in recent history due to the size of the collapse and the number of people involved, not to mention the material and psychological damage incurred. At the time of its collapse in 2005, Refco, a New York commodity broker catering to forex traders, had about 4 billion in client assets, with liabilities reaching upwards of 75 billion. It is clear that the leverage risk taken by the managers of the firm went far beyond anything that could be considered reasonable. The fraud, however, was operated mostly by the CEO and chairman of the company, Richard Bennett, and involved creative account techniques that we have grown familiar with since the years of the bust. Mr. Bennett simply shuffled the bad debt of Refco between the company and certain hedge funds and shadow entities funded by Refcorsquos own capital. In order to prevent these bad assets of the firm from being written off, they were sold to shell companies controlled by Mr. Bennett. It was then that he abused his status as the chairman of Refco by ensuring that a continuing supply of capital flowed to the fake entities he was creating. The fraud was eventually discovered by Refco itself after a period of almost five years and resulted in the corporations Chapter 11 bankruptcy. Losses were suffered by many clients, including forex traders at FXCM, which at the time Refco held a 35 stake in. One notable feature of this scandal is the fact that Refco was a repeat offender when it came to regulatory infractions. The commodities broker was found to be in breach of several regulations at various points in time by the authorities, but clearly not enough was done to ensure future compliance through tighter oversight and enforced regulation. There are a few lessons one can derive from the Refco scandal. First, regulation is by no means a guarantee of protection against creative executives or employees perpetrating fraud. One can also note, as in the case of FXCM, that even a healthy and trusted broker may cause losses to clients if its parent company is a victim of fraud, or is being run by con-men. Next, using leverage at any unsustainable level is not a sensible practice. And finally, the status of Richard Bennett as the architect and chief perpetrator of the fraud reminds us that the declarations of a companyrsquos management about itself should by no means be taken at face value. While it is possible to gain an understanding of various trading platforms by reading through forex software reviews. even the best broker reviews and studies will not help much in anticipating a fraud. The best protection against such a devastating result is diligence and diversification. First make sure that you execute your forex trades through reputable brokers that are licensed and free of regulatory infractions. Then make sure that all your eggs arent in one basket. Only invest what you are fully prepared to lose since forex trading is highly risky. Visualize the loss of every last penny you invest rather than the untold riches you hope to gain. Just like in Vegas, money can be made, but you must fully realize that the odds are not primarily in your favor. These tips may help to ensure that your assets will not totally be wiped out even if one of your broker goes bankrupt, or commits fraud. How to spot investment scams MANILA, Philippines A few days before All Saints Day, the National Bureau of Investigation (NBI) Anti-Fraud and Action Division received an anonymous complaint about a growing investment scam in Southern Luzon. The Grand Alliance of Business Leaders Association Inc (Gabai), reported to be the marketing arm of the South Luzon Multipurpose Cooperative (SLMC), allegedly duped its investors into paying as high as P175,000 weekly for a 40 return. The local police is now investigating the matter, said NBI Senior Agent Normando Anire on Thursday, November 14. SLMCs allegedly fraudulent scheme is just one of many. Over the years, big-time swindlers have victimized unsuspecting investors with their promises of guaranteed returns. Thousands of investors lost their savings from the pyramid scams of companies Grupo Mateo Pilipinas Investors Association Inc and Multinational Telecoms Corporation, headed by Engineer Ervin Mateo and Rosario Baladjay, respectively. Mateo and Baladjay were arrested in 2003. Money lost forever More recently in 2012. complaints were filed over the P12-billion pyramid scam of Aman Futures boss Emmanuel Amalilio aka Mohammad Kamal Saaid. Anire warned that too often, victims are unable to recover their lost monies, even as they go after the scam perpetrators in court. Unfortunately, because the monies have already been spent or used as payment, I do not know of any case where monies were recovered. Usually, no money returns to the victim. So others are getting tired. Instead of filing a case, they opt to no longer do. Normando Anire, NBI Anti-Fraud and Action Division Unfortunately, dahil nga nagastos na yung mga pera na yan o kaya pinangbayad, wala ho akong nalalaman na naka-recover. Kadalasan wala nang maibabalik sa inyong pera. So napapagod na yung iba. Instead na magkaso, huwag na lang , he told the crowd. (Unfortunately, because the monies have already been spent or used as payment, I do not know of any case where monies were recovered. Usually, no money returns to the victim. So others are getting tired. Instead of filing a case, they opt to no longer do.) Anire delivered his talk before a group of 200 overseas Filipino workers (OFWs) and their family members on how to spot fraudulent investments. OFWs are often the target of investment scammers because of their liquidity or ready cash, he said. Estelle Osorio of the Biz Whiz Business Training and Consultancy was likewise present to share her expertise. Osorio is a Certified Investment Solicitor (CIS), while Biz Whiz provides seminars on financial literacy, especially pertaining to the stock market, forex trading, and bonds. The CIS explained that there are often red flags that can be observed from scam operators providing false information. Here are some of the investment tips they shared: 1. If its too good to be true, it probably is. Osorio explained that a guaranteed return is considered a red flag. She also warned against high-yielding investments. There is no such thing as a risk-free investment, Anire echoed. There is always some level of risk involved. He explained that this is due to external factors that may affect the company. 2. No business gains solely from recruitment. A business does not gain primarily or even worse solely on recruitment. Businesses capitalize on products andor services. Kung kikita sa pamamagitan lang ng pagre-recruit, bawal. (If you will gain solely through recruitment, thats not allowed.) Profit must come from the product and not from recruitment, Anire said. 4 Questions To Ask Before Investing: What is the background of the company How much do I need to invest, and how much will I get in return When will I get my return on investment How is the investment making my money grow Estelle Osorio, Certified Investment Solicitor (CIS) The problem with these types of schemes, Osorio explained through a diagram, is that they often fail when investors can no longer lure new investors. Older investors must be able to gain from profits earned out of the business itself instead of commissions from recruitment. In the end, people lose their money when newly-lured investors cash-out and the promoters run away with the money already invested. 3. Vague information may mean deceptive information. Osorio told the crowd to always probe to protect their interests. How much is the minimum placement What is the rate of return When are investments expected to return One must be on a constant information-seeking mode when looking for where to invest ones family earnings. Think twice about investing in a company that is not transparent about how profits are earned or offers vague and confusing explanations about where money is invested, Osorio said. If you dont understand how you will make money, do not invest in it, she said. Anire also advised the OFW groups not to entrust their money to just anyone, much less people they do not know. He used as example family members or personal friends who fail to pay their debts on the set date. Paano pa yung hindi mo kakilala (How much more those who you do not know) he asked rhetorically. Pinaghirapan na pera yan biglang mawawala, dahil nagtiwala kayo agadLaging nasa huli ang pagsisisi , he said. (That is hard-earned money that will just be put to waste, because you trusted too easily. Regrets always come at the end.) 4. Double-check with government data Osorio advised would-be investors to do their due diligence. She said one must look into a companys track record. Check if the company is registered with the Securities and Exchange Commission (SEC). A SEC company registration does not grant the authority to sell investment instruments such as securities, bonds, and commercial papers. For insurance products, I suggest always consult the insurance commission website. If the company is not on the list, dont buy, she said. Osorio likewise shared a few features of Internet-based Ponzi Investment Schemes, based on a SEC warning. Named after scammer Charles Ponzi, a Ponzi scheme is a fraudulent operation intended to convince the public to invest their money. It generates returns for earlier investors by tapping subsequent ones. The SEC said that Internet-based Ponzi schemes have investments in foreign currency (often US dollars), offer a huge profit in a very short period of time, have no paper trail such as contracts and receipts, provide for a lock-up period wherein an investor cannot touch hisher investment for a number of daysmonths, have unknown offices and officers, and conduct orientation seminars informally. When dealing with investment offers by phone, e-mail, flyers, newspaper ads, or directly by any person, always know the company or the person you are speaking with. Get the landline number, which can be traced, instead of a cellphone number. Anire and Osorio were invited guests in the OFW-targeted forum hosted by the Blas Ople Policy Center and Training Institute and the Villar Social Institute for Poverty Alleviation and Governance. RapplerForeign Exchange Investment Fraud Investments in the foreign currency exchange market (FOREX) is a relatively new fraudulent promotion being developed and sold across the country. You are led to believe that you are investing in a currency futures market which is highly regulated, and a market traded in by large banks and financial institutions whose commissions for trades are no more than two or three points. The foreign currency quotspot marketquot is commonly referred to as the quotForexquot. Foreign currency contracts may be legitimately traded either on a recognized futures exchange or in the quotinterbank market, quot which generally involves trading between large institutions such as banks and corporations, rather than individual or retail customers. Fraudulent currency trading firms often tell customers that their trading is done in the quotinterbank marketquot on your behalf. quotWith a 10,000 deposit, the maximum you can lose is 200 to 250 per day. quot Many currency traders ask customers to give them money known as quotmargin, quot often sums in the range of 1,000 to 5,000. These amounts, which are relatively small in the currency markets, actually control far larger dollar amounts of trading. Margin trading can make you responsible for dollar losses that greatly exceed the margin amount you deposited. quotYou take only as much risk as you see fit. quot Such leveraged trading allows investors to speculate with a cash margin of less than 5 of the U. S. dollar price for foreign currencies such as the German Mark, the Swiss Franc, the British Pound and the Japanese Yen. quotWhether the stock market moves up or down, in the currency market you will always make a profit. quot The victims of these fraudulent promoters are actually being sold a position in a currency forwards market which is both completely unregulated and provides no guarantee that the promoter has secured the forward position in the traded currency. You are also not aware that you will pay a 50 commission on each deal and that they have no chance to either make a profit or to recover their investment. This type of investment scam terminology is often used along with Prime Bank Schemes and substantiated by Ponzi payments. One group, Forex Investment, recruited quotprofessional currency tradersquot who actually had insufficient training and experience in forex trading, leaving most investor accounts suffering substantial losses about three out of every four dollars invested in the program. For more information regarding this type of investment be sure to investigate the databases of the National Futures Association and the CFTC. Companies will make deceptive, misleading and high-pressured sales solicitations. Often principals fail to diligently supervise employees and agents in the conduct of their commodity futures activities. They make deceptive, misleading and unbalanced sales solicitations churn customer accounts and fail to uphold high standards of commercial honor and just and equitable principles of trade. Soliciting people to invest without being registered. Engage in fraudulent solicitation practices. They commit fraud in connection with the purchase and sale of commodity futures and options contracts for customer accounts by making false, deceptive, and misleading statements or omissions of material facts. They commit fraud by churning customer accounts in a pervasive and widespread manner to generate commissions, without regard for the trading objective of customers making fraudulent statements concerning, among other things, the likelihood of profits in trading commodity futures and options contracts, the risk of loss, and the experience and trading success of their company and salespeople. Make communication with the public which operates as a fraud or deceit. They directly or indirectly (1) Violate, aid or abet or induce directly or indirectly the violation of sections 4b(a)(i), 4b(a)(iii), and 4c(b) of the Act and sections 33.7(f) and 33.10 of the CFTCS regulations involving cheating or defrauding or attempting to do so, or willfully deceive or attempt to do so in regard to any commodityfuture order or contract, and (ii) violate Section 166.3 of the CFTCS regulations by failing to supervise diligently the handling of commodity accounts. They fail to prove by clear and convincing evidence that their registration would pose no substantial risk to the public. They engage in acts and practices that violate the Commodity Exchange Act and CFTC regulations. They make false statements on their registration documents filed with the CFTC by failing to list principals of the company due, in part, to their controlling financial interest in the company. They fail to supervise diligently the handling of customers commodity futures and commodity option accounts by failing to monitor sales solicitations made by its salespeople and by instructing its salespeople to misrepresent material facts to induce customers to engage in trading practices designed to maximize commissions. The company officials, without admitting or denying any allegations, usually consent to the entry of a permanent injunctive order finding that their company violated the anti-fraud provisions of the CEA and CFTC regulations and permanently enjoining it from further such violations. Then they just wipe the slate clean and start a new company. The courts often find quotsystematic, willful and pervasive fraudulent conductquot regarding violations of the law and CFTC regulations over a long period of time. Improper sales practices often continue even after the filing of actions with the principals approval and active participation. They violate NFA Compliance Rule 2-29(A)(2) by employing a high-pressure approach with the public. Misrepresentations often include: the likelihood of profit and the possibility of loss in trading commodity options, the applicability and importance of the risk disclosure statement required by Commission regulations, their companys experience and reputation in the commodity industry, their success rate in trading commodity options, and the existence of an in-house research department and a staff of analysts. They systematically engage in high-pressure sales tactics, typical of a boiler-room operation, and routinely make false or deceptive statements when soliciting customers. They provide little training to its APs other than sharpening high-pressure sales techniques. They encourage its salesmen to maximize commissions by pressuring and convincing its customers, through high-pressure and fraudulent sales techniques, to purchase inexpensive, significantly out-of-the-money options that were seldom profitable to the customer after commissions. They typically charge its customers a commission of 175 per option to buy an option with a commission fee of 75 to offset an option transaction. The paramount goal of the sales operation is to maximize commission income by maximizing the number of options purchased by customers and by misrepresenting the profit potential of the options purchased for customers. Numerous option accounts contained transactions in which the commission-to-premium ratio exceeded 100 percent, and that a majority of customers paid between 40-60 percent of their investment funds for commissions. They encourage such high commissions by financially rewarding account executives based only on the volume of options purchased, and by discouraging or prohibiting the purchase of more expensive options. They accomplish their objective of maximizing commission income by encouraging its APs to misrepresent the profitability of the options marketed by them and to misrepresent the impact of the commission structure on the profit potential of the options marketed to customers. For example, one complaint alleged that over a 3 12 year period one company traded over 2,800 customer accounts and that over 90 percent of those customers lost all or substantially all of their money, while the company collected 12.8 million in commissions. That one complaint also alleged that in just five months the company had 1,126 actively traded customer accounts, and those accounts had an aggregate net loss of about 5.5 million and had paid total commissions of approximately 2.6 million, which accounted for 48 percent of the net losses. Another CFTC complaint alleges that, in a twelve-month period, one company handled approximately 988 customer accounts, which generated 3.16 million in commissions while customers lost over 7 million. Of the customer accounts handled in this period, 97 percent lost all or nearly all of their equity. For a five-month period, they handled approximately 1,019 accounts, which generated 2.2 million in commissions but resulted in 83 percent of its customers losing all or nearly all of their equity in an amount aggregating 5.2 million. Their radio commercials operate as a fraud and deceit and are created and aired with a total disregard for the truth. At the principals direction the companies engage in a deliberate course of conduct to defraud and deceive customers. Foreign Currency Fraud Victims Representing to customers and prospective customers: -- that they are guaranteed to make a profit as the result of an investment in commodity options, -- that trading commodity options is virtually risk-free, and -- that disclosure documents required by CFTC regulation are insignificant or of little importance, or words to that effect. Omitting to inform customers and prospective customers: -- that a seasonal increase in demand for a specific commodity, such as heating oil and unleaded gasoline, in and of itself, will not necessarily result in increased value of the option on the given commodity, -- that past trends in futures prices on specific commodities do not necessarily forecast current profitability of options on futures contracts on those commodities, -- that currently known market news does not necessarily mean that a customer will make money by trading through them as currently known market news is usually already factored into the underlying futures price, as well as the option value, -- that, except possibly for in-the-money options, a rise in the price of the underlying futures contract does not typically correlate on a one-to-one ratio with a rise in the price of an option on that futures contract, -- that stop loss orders are not always effective in limiting risk of loss, -- that diversification of opt ion positions does not necessarily limit risk of loss or increase profit potential for each option position purchased, and -- that, under certain market conditions, a customer may find it difficult or impossible to liquidate a position since market conditions on the exchange where the order is placed may make it impossible to execute a liquidation of the position. They fail to obtain customer information in a proper manner. They fail to maintain the amount of net capital required by Commission regulations, fail to notify the Commission of such and fail to keep current books and records. Some fraudulent forex companies solicit customers to trade in an options strategy known as quotbutterfly spreadsquot aware of the consistently negative effect the strategy has on the ability of customers to make money over the long term. They defraud its customers by placing matched buy and sell orders for futures contracts on U. S. futures exchanges. It then assigns trades to particular accounts to create a desired pattern of profits and losses. They place orders to purchase and sell the same quantities of the same contract at identical or nearly identical prices. These trades generally are offset by another company, as day trades at the exchange clearinghouse, but are nonetheless listed as quotopenquot in separate sub-accounts held in one companys name. They then issue trading statements that falsely reported these closed-out day trades as remaining open. The one company uses these statements to falsely report profits or losses to customers by means of matching long and short positions from the various sub-accounts and falsely reporting to customers that such trades were mutually offsetting. They falsely and deceptively confirm the execution of certain fraudulent transactions by suggesting that the purchases and sales listed side-by-side in the confirmation are mutually offsetting, when, in fact, they are unrelated trades. They purchase for customer accounts, most of which were discretionary, butterfly-spread option positions, for which the firms assess a fee of 180 per option. The butterfly spreads consist of four puts or calls (two buys and two sells), resulting in four commissions for each butterfly option position, or 720 per spread. The 720 commission is in addition to a 12 percent of equity, up-front fee charged. Along with the commission structure, they also institute a policy of minimizing the amount of customer money committed to the market as premium by purchasing less expensive quotout-of-the-moneyquot positions. The butterfly spread trading strategy and commission structure was used to replace a previously charged 40 percent up-front fee and 60 per roundturn option commission after German courts were looking with disfavor on large up-front fees charged by brokers and were awarding damages to complaining customers. This reduced the up-front fee to the 12 to 13 percent range, tripled the per option commission to 180, and allowed them to begin trading butterfly spreads for their customer accounts, which were mostly discretionary. The fraudulent trading strategy makes it virtually impossible for customers to earn a profit on their investments given the commission structure and the trading strategy employed. In fact, almost all the butterfly spread trades expired without value, or were exercised and assigned for a financial result of zero. Total losses consisting of commissions and premiums for 339 customers in one case were approximately 5.6 million, of which approximately 4.8 million, or 86 percent, were attributable to commissions (excluding the 12 percent fee deducted). 0998 - The SEC filed a complaint and obtained emergency relief involving a Ft. Lauderdale company, International Capital Management . Inc. (ICM) that solicited investors with claims that they would profit from its foreign currency exchange program. According to the complaint, ICM used high pressure quotboiler-roomquot telemarketing sales tactics to raise approximately 18 million from more than 1600 investors from October 1997 to early September 1998. They told investors that they could obtain returns of 3-6 per month and sent bogus monthly account statements that showed consistent profits. ICM also told investors that 80 of investor funds would be held in a bank account and the remaining 20, which would be used in ICMs foreign currency trading program, would be protected from significant losses by their purported use of a quotstop-lossquot order on every trade. All of these representations were false in that the foreign currency trading generated a net loss for investors, ICM did not keep 80 of investor funds in bank accounts, nor did they use quotstop-lossquot orders on all trades. The SECs claim also named WorldCorp Traders amp Co. Inc. (WorldCorp) as a relief defendant, alleging that ICM had transferred at least 10 million to WorldCorp. which used at least some of those funds to trade in foreign currencies. The SEC froze all of ICMs assets and those assets of WorldCorp that were provided by ICM. ICM consented to a permanent injunction against future violations of the antifraud provisions of the federal securities laws and consented to the appointment of a receiver. The receiver has recovered approximately 5.2 million and made an initial distribution to more than 1,600 investors and creditors of nearly 3.3 million, representing 19.6 of their claims, and continues to pursue actions against other defendants. On July 6, 2001, Jared DArgenio who pled guilty to one count of conspiracy to commit mail fraud and wire fraud faces a maximum sentence of five years in Federal prison. Later in the year Nelson N. Schembari pled guilty to one count of conspiracy to commit mail fraud and wire fraud and faces a maximum five years. Ken Tripoli pled guilty to one count of conspiracy to commit mail fraud and wire fraud and one count of money laundering and faces a maximum sentence of twenty years. Larry Tripoli pled guilty to one count of conspiracy to commit mail fraud and wire fraud and faces a maximum sentence of five years. Civil Action No.98-7062-CIV - DIMITROULEAS A similar foreign currency trading scheme, Unique Financial Concepts . Inc. was also sued by the SEC. 0999 - Anthony Baldwin and Global Currency Management . Inc. were alleged to have fraudulently raised over 1 million from investors who believed his promotional material which stated he had a notable and recognized record of consistently profitable returns, averaging almost 5 monthly, in his foreign currency trading. Reassured by false monthly account statements which depicted the investment as safe and profitable, victims were unaware that he had already lost virtually all of their money in trading despite, or perhaps because of, his former experience with International Capital Management. ( see above ) He agreed to the SEC injunction but was not required to make restitution due to his demonstrated inability to pay. A few current ops are using the firm names Salmon Chase International, Inc. Gibson Reed and First Forex Holding Corporation. On January 1st 2002, the European countries began using the new Euro. Never before have so many countries with such powerful economies united to use a single currency. Get your piece of history now We would like to send you a FREE Euro and a FREE report on world currency. Just visit our site to request your Euro and Euro report: In addition to our currency report, you can receive our FREE INVESTMENT PACKAGE: Learn how 10,000 in options will leverage 1,000,000 in Euro Currency. This means even a small movement in the market has huge profit potential. If you are over age 18 and have some risk capital, its important that you find out how the Euro will change the economic world and how you can profit 10,000 minimum investment Investing in Forex Currency options is speculative and includes a high degree of risk. Investors can and do lose money. 1002 - EMF HOLDINGS, INC., a quotreal estatequot firm in Cebu and Manila in the Philippines and Hong Kong ( with plans to expand to Singapore and Japan ) specializes in currency trading ( yen against the dollar ), though they also maintain different savings and checking accounts in dollars and pesos in various international banks. Though the company is small, EDGAR FIGER, the owner, says he has a great deal of experience in trading and while he seems to own 80 of the company, for some reason, his name does not appear in any of the registration documents, especially with the SEC there. Investors seem to become creditors who loan the company money with a promise of 20 returns every 30 days. The traders must accumulate enough borrowed funds to reach a contract size in either yen or dollars in order to make quota before they get on the payroll. EMF Holdings Inc. Fedman Bldg, Salcedo St. Makati City 802-A Keppel Tower Cebu Business Park, Cebu City, Philippines EMF Investment Ltd Unit 1808 One International Finance Center, HK EMF HOLDINGS, INC. RRN20020726083651362 EMF HOLDINGS, INC. RRN20020726085816947 EMF MULTI-SYSTEM MANAGEMENT AND HOLDINGS CORPORATION, RRN02169101937 Siphon Tap Turned Off CA - 111503 - UnionTrib - A federal jury yesterday convicted two San Diego men on charges of mail and wire fraud related to an apparent Ponzi scheme the pair operated out of La Jolla offices. William F. McCray and Paul Yates were indicted in August 2000 on charges that they lured the public to invest 30 million in International Forex and Earthwise International . two firms that purportedly traded foreign currency. Prosecutors said the two solicited clients with fraudulent claims of high annual returns on these currency trading accounts and falsely told investors their funds were insured and held in trust with a bank. In addition, prosecutors said they told victims who invested that their accounts were earning substantial positive returns, when in fact they were being paid with new investor money. Prosecutors said McCray also siphoned off 5.8 million in investor money, putting it into a Bermuda bank account and using it to purchase a condominium and a luxury sports car. Yates was convicted on 12 counts of mail fraud and six counts of wire fraud. He faces up to 90 years in prison and fines of 4.5 million, prosecutors said. McCray was convicted on five counts of money laundering, two counts of filing a false tax return and one count of conspiracy to evade taxes for concealing more than 1 million in income from the Internal Revenue Service over three years. He also was found guilty of four counts of perjury for his testimony in bankruptcy proceedings for International Forex, in which he denied the company was related to Earthwise International. McCray faces a maximum sentence of 101 years in prison and fines of 10.5 billion, prosecutors said. Sentencing for the pair is scheduled for February. The jury also found that 5.8 million McCray wired to the Bermuda bank and the car were assets related to the money laundering charges. Prosecutors said this finding could lead to their forfeiture to the U. S. government. A third man charged in the scheme, Tony D. Ortega . pleaded guilty earlier this year to charges of conspiracy to evade taxes. He is scheduled to be sentenced next month. Dubai Currency Trading Scam Bust 0207 - (Gulf News) Dubai: The Dubai Financial Services Authority (DFSA) said on Thursday it has broken a global currency trading scam. The scam invited investors in Australia and Singapore to put their money in fictitious entities which claimed to be based in the Dubai International Financial Centre (DIFC). One alleged operative, who liaised with potential investors using a UAE phone number, has been arrested in Dubai. At least six fraud victims contacted the DIFC regulator, leading to a four-week investigation. quotAt this stage we cannot be certain about the size of the scam or investor losses, but we know that approximately 600,000 has passed through a bank account set up by these fraudsters in Malaysia, quot DFSA chief executive David Knott said. The probe was conducted by DFSA and with the Emirates Securities and Commodities Authority and involved market regulators from Malaysia, Britain, the US and Singapore. The racket operated three fictitious entities called the Dubai Options Exchange, the UAE Commodities Futures Board and Cambridge Capital Trading. All claimed to offer services within the DIFC. The fraudsters used a US-based internet service provider. Australian and Singaporean investors were cold called by representatives of Cambridge Capital Trading to take options on currency movements. The investors were then directed to the false websites and told to transfer funds into the bank account in Malaysia. Florida is fertile for foreign currency fraud 0206 - When investigators from the Commodities Futures Trading Commission looked into Lazaro Jose Rodriguezs bank accounts, they said they found that in a single month he had withdrawn customer trading funds to spend 173,251 on two Chevrolet Corvettes. In a separate case, the CFTC in December sued a Coral Springs man and the companies he ran, alleging they had fraudulently taken 14 million from at least 140 people by falsely claiming they made large profits trading foreign currency futures. Commodities fraud, a growing problem in South Florida and across the nation, will be a topic of debate when industry leaders meet at the Futures Industry Associations annual conference next month in Boca Raton. Though there are no reliable statistics on commodities fraud by geographic region, and many cases include suspects from different areas, the industry consensus is that South Florida outpaces the rest of the nation. quotThe combination of numerous palm trees, roguish telemarketers, phone banks, rich retirees, telemarketing defense lawyers, and South Floridas close proximity to foreign jurisdictions makes it a magnet for those that want to earn their living with their tongue and a telephone, quot said Gregory Mocek, enforcement director for the CFTC, which polices the sale of commodity futures and options. quotPour a little Panama Jack suntan oil on the situation and you have a perfect environment where investors get burned. quot In a suit filed earlier this month, the CFTC alleged that Miami-based Rodriguez had burned about 400 investors for a total of 1.5 million after promising them 300 percent trading profits. Rodriguez could not be reached for comment. Among the trends the CFTC is finding in South Florida: Trading operations are overcharging customers by requiring them to pay both a commission and a so-called spread, essentially another commission. Some boiler rooms have started to seek investors for gold, which is attractive because it has risen 26 percent in the past year. With the growth of the Internet, regulators also are seeing more online trading operations offering illegal foreign exchange contracts and then misusing the investments they receive, Mocek said. Some industry experts say South Floridas history as a hotbed for telemarketing boiler rooms makes it easy for fraudsters to move quickly into commodities such as currencies when the market gets hot. quotSouth Florida was the commodities options fraud capital of the world in the early to mid-1980s, quot said Robert Wayne Pearce, a Boca Raton lawyer specializing in commodities and stock law. In the 1990s, federal and state officials cracked down on boiler rooms, and the commodities markets quieted as investors shifted money into the stock market. But with the prices of commodities such as gold, oil, copper and platinum rising sharply in the past year, investors have become more interested in the esoteric world of futures and options trading. quotThat gives opportunities to the hucksters out there, quot Pearce said. One good indicator, though unscientific, is that advertisements for training in commodities trading are starting to appear more frequently in newspapers and other media outlets, he said. Commodities are physical goods, such as metals, foods, grains and currencies. An investor usually buys them through a futures contract, an agreement to buy or sell a set amount of a commodity at a predetermined time. A futures contract is an obligation to the buyer and seller. An options contract is different in that it is an obligation only to the seller. Nationwide, the CFTC has gathered about 300 million in restitution and penalties in 85 cases in the past five years, Mocek said. About 24,000 people were victims in those cases. But John Damgard, president of the Futures Industry Association, thinks the penalties -- typically suspensions, fines or banishment from the industry -- arent harsh enough. The biggest problem is not the firms that trade on exchanges, but criminals running quotstorefrontsquot that pretend to be legitimate, Damgard said. In South Florida, the CFTC needs to work more closely with law enforcement officials and the state attorneys office to ensure that offenders go to jail, he said. The CFTC doesnt have that authority. quotIts a cruel hoax to make the CFTC the lead agency in putting these guys in the slammer, quot Damgard said. He would like to see a state prosecutor in Florida quotmake an examplequot of fraudsters the way New York Attorney General Eliot Spitzer challenged Wall Street firms in court. Mocek said the CFTC opened an Office of Cooperative Enforcement more than three years ago and has been collaborating with the FBI, state attorney general offices and local prosecutors. But Mocek knows that as long as the weather is agreeable, commodities fraudsters will make South Florida home. quotThere are a number of people, quot he said, quotwho would rather do it from a warm spot rather than sit on an icecap. quot Restitution ordered in foreign currency investment fraud case 0306 - Florida - Seventy victims in an investment scam may get a chance to recoup their losses. Attorney General Charlie Crist, Friday, said David Alan Luger, of Boca Raton, has been ordered to pay 2.2 million in restitution to victims of what the state called a multimillion-dollar investment fraud. Luger was also ordered to serve 13 years in prison. He was convicted in a case prosecuted by Crists Office of Statewide Prosecution. Luger, who was prosecuted for management roles in what the state called several boiler room operations, ran what prosecutors called an investment fraud ring that victimized elderly Floridians, promising high returns in the foreign currency market. Instead of investing the funds, prosecutors argued Luger and an accomplice kept the money for their personal use. The state said many of Lugers victims lost their retirement savings to the scam. The boiler rooms operated from 1999 to 2003 under the business names USFX Corp. and Worldwide Forex Corp. Luger was arrested in 2001 for his role in the scam, but then prosecutors said he started another operation, called Group 24, while serving house arrest in Boca Raton. The state said an accomplice is currently an international fugitive. quotThose who steal from our senior citizens for their personal gain will be prosecuted to the fullest extent of the law, quot Crist said. quotFloridians can rest assured they will be protected from these unscrupulous characters. quot The Boca Raton Police Department and the Broward County Sheriffs Office conducted the investigation. Luger was convicted in January on counts of racketeering, grand theft, fraudulent transactions and telemarketing fraud. Palm Beach Circuit Judge Krista Marx sentenced Luger yesterday. South Florida Business Journal Richmond man faces up to 120 years for foreign currency school fraud scheme 1206 - (AP) RICHMOND, Va. -- A 22-year-old Richmond man accused of cheating more than 350 investors out of about 8.3 million pleaded guilty Wednesday to mail fraud and money laundering. James E. Brown Jr. faces a maximum of 120 years in prison and fines of up to 16 million on each count when he is sentenced March 14 by U. S. District Judge Richard Williams, according to federal prosecutors. Brown was arrested in September after an investigation by the FBI, the U. S. Postal Inspection Service and the Internal Revenue Service. Authorities charged that Brown, owner and president of Brown Investment Services, promised investors he could double their money every 30 business days through trading on the Foreign Currency Exchange Market. The investment program, which Brown promoted at classes and seminars, was bogus. Little of the money was invested, and Brown paid early investors with cash coming in from subsequent investors to lull them into believing the investments were paying off as promised. Brown used the money to finance a lavish lifestyle, including a 2.9 million fleet of luxury automobiles for himself and his employees. According to prosecutors, of the 8.3 million Brown obtained from investors, he only invested 484,000 in the foreign currency market, losing about 61,000. Only about 700,000 remained in the companys bank account when Brown was arrested. Forex trading educational center taught victims how to lose money 0807 - California - Joel Nathan Ward, 48, of Turlock, has pleaded guilty to charges related to swindling millions of dollars out of trusting investors. Mr. Ward, a frequent commentator and seminar speaker on foreign currency exchange (8220forex8221) trading, ran an elaborate scam through two of his companies, the Joel Nathan Forex Investment Group of Turlock and Learn: Forex Inc. a forex trading educational center based in Sacramento, federal prosecutors say. A federal grand jury indictment alleged that as part of the scheme, Mr. Ward offered investors the opportunity to invest in the foreign exchange interbank 8220spot8221 market through his fund, the Joel Nathan ForexFund. Many of the victims were family members, close friends, and individuals who had been enrolled in the Learn: Forex program, either in Sacramento or through online classes. Mr. Ward required a minimum 50,000 investment, and told investors they could anticipate significant returns. The indictment also charged Mr. Ward with defrauding investors in a second scheme relating to a purported real estate investment project in Mississippi. He was alleged to have simply diverted investors funds to his own use. In pleading guilty Friday, Mr. Ward admitted that he stole the investors8217 funds, using the money for his own compensation and expenses, and to purchase the Learn: Forex School in Sacramento. He also admitted that in order to conceal the theft, he made 8220Ponzi8221 payments using other investors8217 funds and provided his investors with altered account statements. The scheme collapsed in November 2006. The investor victims lost over 7 million. quotWard used his self-proclaimed expertise in foreign currency trading to steal millions of dollars from family, friends, employees, and other investors. While he claimed to be a highly successful trader, in fact he was merely a thief,8221 says U. S. Attorney McGregor Scott. The guilty pleas were entered to five counts of wire fraud, two counts of mail fraud, and two counts of engaging in monetary transactions in property derived from specified unlawful activity, a form of money laundering, according to Assistant U. S. Attorneys Benjamin Wagner and Ellen Endrizzi, who are prosecuting the case. There was no plea agreement in the case, and Mr. Ward is to be sentenced Nov. 2. The maximum penalty under federal law for each offense of wire fraud and mail fraud is 20 years8217 imprisonment, a three-year term of supervised release, and a 250,000 fine. The maximum penalty for each offense of money laundering is ten years8217 imprisonment, a three-year term of supervised release, and a 250,000 fine. However, the actual sentence will be determined at the discretion of the court after consideration of the advisory Federal Sentencing Guidelines, which take into account a number of variables, and any applicable statutory sentencing factors. Central Valley Business Times Commodity Futures Trading Commission warns of a rise in foreign-currency trading scams. 0306 - They reach people, often retirees, through cold calls and television commercials. And they likely made off with 1 billion of stolen money in the last five years. Foreign-currency trading scam artists, thanks to their growing numbers, are the target of increased enforcement and education efforts by federal regulators. And a disproportionate number of them seem to have set up camp in South Florida, said Reuben Jeffery, chair of the U. S. Commodity Futures Trading Commission, at the Boca Raton Resort amp Club. Jeffery and other CFTC regulators said the Futures Industry Association has created a task force to attack the fraud problem that plagues the foreign-currency markets, which trade an average of 1 trillion a day. quotMost forex dealers are legitimate. But there are a growing number of scam artists, quot CFTC Commissioner Michae Dunn said. quotIts a black mark on the entire industry. quot He said scam artists have ripped off tens of thousands of Americans of all ages, though they primarily target retirees. In the 87 cases the CFTC has filed in federal court in the last five years alleging foreign-currency fraud, investors have lost a total of 380 million. Dunn estimates that investors lost 1 billion in that time to foreign-currency fraud. quotWeve got stories of people suffering from dementia and get these cold calls, quot said Dunn said. quotThere are also some very, very bright people who get scammed. quot With foreign-currency trading, investors buy currencies on the open market. They hope the currency theyre buying will rise in value more than the currency theyre using to buy it. The CFTC is working with state and local authorities to step up investigations and prosecutions in fraud cases. It is also trying to educate the public through an informational brochure, partnerships with consumer groups and town hall-style meetings hosted with the National Futures Association. The message, in large part, is that investors should be wary of unlicensed brokers offering deals that sound too good to be true. Investors should avoid high-pressure sales, confusing investments and brokers who encourage them to mortgage their home or cash out their retirement savings. Dunn also encouraged people whove been cheated to spread the word about fraud among their friends and neighbors. quotIm always amazed people are being defrauded and they dont tell anybody about it, quot he said. quotWe had a whole community ripped off that way. quot Investors who suspect fraud or want more information can visit cftc. gov. The National Futures Associations website, nfa. futures. org, also allows people to run background checks on brokers. Palm Beach Post Man given prison time in currency fund scam 0106 - California - A San Diego man was sentenced yesterday to five months in prison and five months house arrest for his part in a multimillion-dollar scam centered on a bogus foreign currency fund. Stephen Baere, who worked for Richard Robert Matthews at the La Jolla-based White Pine Trust Corp. was sentenced by San Diego federal Judge Jeffrey Miller. Baere is to surrender to federal authorities March 27. Matthews admitted last April to soliciting 22 million from 247 investors between 2000 and 2004 and then absconding with much of the money, according to court filings. He pleaded guilty to one count of mail fraud and was sentenced in December to more than five years in prison. He also was ordered to pay back more than 14.7 million to investors in the United States and abroad. Baere admitted to prosecutors in June that he misled hundreds of investors, but he said yesterday through his lawyer that he was unaware that the fund was bogus and that Matthews was making off with clients money. 8220He had no idea what Matthews was doing, and he was crushed when he found out,8221 said Colin Murray, Baeres attorney. Baere, who pleaded guilty to one count of conspiracy to commit mail fraud, told prosecutors that he worked for Matthews between January 2002 and December 2003. During that time, Baere told prosecutors that he gained between 400,000 and 1 million. In addition to the prison time, Miller yesterday ordered Baere to pay 600,000 in restitution. Tyler Zollinger, also associated with White Pine, is scheduled to be sentenced in February. Scammed forex investors may get some of their money back from crooks 0807 - About 100 investors in a securities scam 8211 most of them from Texas 8211 are a step closer to getting some of their money back after a court granted a summary judgment against the architect of the scam, the Securities and Exchange Commission said Thursday. U. S. District Judge Jane Boyle last week ordered Gerald Leo Rogers of Seattle to return 11 million and pay a fine of 120,000. In 2005, the court froze the assets of Mr. Rogers and his companies, Premium Investment Corp. TriForex International Ltd. and InForex Ltd. According to the SEC, Mr. Rogers is a twice-convicted felon whose criminal and securities fraud history spans nearly four decades. He started his latest scheme in 2004, shortly after being paroled from a 35-year prison sentence, the SEC said. According to the SEC, Mr. Rogers hired 140 sales agents to target mostly retirees with promises of quotguaranteed profitsquot and quotsafety of principalquot in covered-call options in foreign currency trading. quotRather than investing in these safe, covered-call transactions, Rogers, who believes hes a financial genius, invested millions of dollars in speculative trades, quot said Jeff Norris, the trial attorney for the Fort Worth SEC office in the case. quotIts one of the most clever and diabolical schemes that Ive seen, because Rogers created a program that made it extremely difficult for investors and even brokers to do due diligence, because everything was taking place overseas. quot Mr. Rogers parole has been revoked, and the 72-year-old is back in prison until 2015, according to the Bureau of Prisons Web site. The summary judgment should clear the way for the court-appointed receiver to start returning some of the victims money. quotIt looks like about 40 cents on the dollar, which is not really badquot in a case like this, Mr. Norris said. quotIf we hadnt caught this when we did, it could all have been gone. quot Dallas Morning News Forex Fraud Nets Conman Jail Time NEW YORK - 0208 - A New York man was sentenced to more than 12 years in prison Friday in connection with a foreign currency exchange scam that bilked more than 200 investors out of 6.5 million. The U. S. Attorneys office in Manhattan said Boris Shuster, also known as quotRobert Shuster, quot was sentenced to 150 months in prison at a hearing in U. S. District Court in Manhattan. U. S. District Judge Victor Marrero also ordered Shuster to forfeit 7.89 million and pay a 10,000 fine. Shuster, guiltyleaded guilty to conspiracy, 14 counts of wire fraud and 13 counts of mail fraud last June. Prosecutors had sought a sentence of 235 months to 293 months in prison, said Sarita Kedia, Shusters lawyer. quotWe do plan to appeal, quot Kedia said. Shuster was previously sentenced to 60 months in prison after pleading guilty to criminal charges in a separate forex scam in federal court in Brooklyn. He had remained free pending his sentencing in federal court in Manhattan, Kedia said. In the Manhattan case, prosecutors had alleged that Shuster and Alexander Dzedets operated a fraudulent forex firm named Holston, Young, Parker amp Associates in Manhattan. Dzedets, 32, and nine others have pleaded guilty to criminal charges in the quotboiler roomquot scheme, prosecutors said. Employees of the firm allegedly used false and misleading sales pitches and high-pressure sales tactics to convince people to invest in its purported forex trading program, the government said. Funds raised werent used to invest in the forex market, but were instead diverted to bank accounts in Cyprus and Russia, prosecutors said. The Refco Case: How 75 billion evaporated. The forex business has always had its dark side. A forex scam is nothing new, and most traders are aware that trading forex necessitates a basic acceptance of the risks involved in interacting with a broker. Still, the Refco case stands out in recent history due to the size of the collapse and the number of people involved, not to mention the material and psychological damage incurred. At the time of its collapse in 2005, Refco, a New York commodity broker catering to forex traders, had about 4 billion in client assets, with liabilities reaching upwards of 75 billion. It is clear that the leverage risk taken by the managers of the firm went far beyond anything that could be considered reasonable. The fraud, however, was operated mostly by the CEO and chairman of the company, Richard Bennett, and involved creative account techniques that we have grown familiar with since the years of the bust. Mr. Bennett simply shuffled the bad debt of Refco between the company and certain hedge funds and shadow entities funded by Refcorsquos own capital. In order to prevent these bad assets of the firm from being written off, they were sold to shell companies controlled by Mr. Bennett. It was then that he abused his status as the chairman of Refco by ensuring that a continuing supply of capital flowed to the fake entities he was creating. The fraud was eventually discovered by Refco itself after a period of almost five years and resulted in the corporations Chapter 11 bankruptcy. Losses were suffered by many clients, including forex traders at FXCM, which at the time Refco held a 35 stake in. One notable feature of this scandal is the fact that Refco was a repeat offender when it came to regulatory infractions. The commodities broker was found to be in breach of several regulations at various points in time by the authorities, but clearly not enough was done to ensure future compliance through tighter oversight and enforced regulation. There are a few lessons one can derive from the Refco scandal. First, regulation is by no means a guarantee of protection against creative executives or employees perpetrating fraud. One can also note, as in the case of FXCM, that even a healthy and trusted broker may cause losses to clients if its parent company is a victim of fraud, or is being run by con-men. Next, using leverage at any unsustainable level is not a sensible practice. And finally, the status of Richard Bennett as the architect and chief perpetrator of the fraud reminds us that the declarations of a companyrsquos management about itself should by no means be taken at face value. While it is possible to gain an understanding of various trading platforms by reading through forex software reviews. even the best broker reviews and studies will not help much in anticipating a fraud. The best protection against such a devastating result is diligence and diversification. First make sure that you execute your forex trades through reputable brokers that are licensed and free of regulatory infractions. Then make sure that all your eggs arent in one basket. Only invest what you are fully prepared to lose since forex trading is highly risky. Visualize the loss of every last penny you invest rather than the untold riches you hope to gain. Just like in Vegas, money can be made, but you must fully realize that the odds are not primarily in your favor. These tips may help to ensure that your assets will not totally be wiped out even if one of your broker goes bankrupt, or commits fraud. How to spot investment scams MANILA, Philippines A few days before All Saints Day, the National Bureau of Investigation (NBI) Anti-Fraud and Action Division received an anonymous complaint about a growing investment scam in Southern Luzon. The Grand Alliance of Business Leaders Association Inc (Gabai), reported to be the marketing arm of the South Luzon Multipurpose Cooperative (SLMC), allegedly duped its investors into paying as high as P175,000 weekly for a 40 return. The local police is now investigating the matter, said NBI Senior Agent Normando Anire on Thursday, November 14. SLMCs allegedly fraudulent scheme is just one of many. Over the years, big-time swindlers have victimized unsuspecting investors with their promises of guaranteed returns. Thousands of investors lost their savings from the pyramid scams of companies Grupo Mateo Pilipinas Investors Association Inc and Multinational Telecoms Corporation, headed by Engineer Ervin Mateo and Rosario Baladjay, respectively. Mateo and Baladjay were arrested in 2003. Money lost forever More recently in 2012. complaints were filed over the P12-billion pyramid scam of Aman Futures boss Emmanuel Amalilio aka Mohammad Kamal Saaid. Anire warned that too often, victims are unable to recover their lost monies, even as they go after the scam perpetrators in court. Unfortunately, because the monies have already been spent or used as payment, I do not know of any case where monies were recovered. Usually, no money returns to the victim. So others are getting tired. Instead of filing a case, they opt to no longer do. Normando Anire, NBI Anti-Fraud and Action Division Unfortunately, dahil nga nagastos na yung mga pera na yan o kaya pinangbayad, wala ho akong nalalaman na naka-recover. Kadalasan wala nang maibabalik sa inyong pera. So napapagod na yung iba. Instead na magkaso, huwag na lang , he told the crowd. (Unfortunately, because the monies have already been spent or used as payment, I do not know of any case where monies were recovered. Usually, no money returns to the victim. So others are getting tired. Instead of filing a case, they opt to no longer do.) Anire delivered his talk before a group of 200 overseas Filipino workers (OFWs) and their family members on how to spot fraudulent investments. OFWs are often the target of investment scammers because of their liquidity or ready cash, he said. Estelle Osorio of the Biz Whiz Business Training and Consultancy was likewise present to share her expertise. Osorio is a Certified Investment Solicitor (CIS), while Biz Whiz provides seminars on financial literacy, especially pertaining to the stock market, forex trading, and bonds. The CIS explained that there are often red flags that can be observed from scam operators providing false information. Here are some of the investment tips they shared: 1. If its too good to be true, it probably is. Osorio explained that a guaranteed return is considered a red flag. She also warned against high-yielding investments. There is no such thing as a risk-free investment, Anire echoed. There is always some level of risk involved. He explained that this is due to external factors that may affect the company. 2. No business gains solely from recruitment. A business does not gain primarily or even worse solely on recruitment. Businesses capitalize on products andor services. Kung kikita sa pamamagitan lang ng pagre-recruit, bawal. (If you will gain solely through recruitment, thats not allowed.) Profit must come from the product and not from recruitment, Anire said. 4 Questions To Ask Before Investing: What is the background of the company How much do I need to invest, and how much will I get in return When will I get my return on investment How is the investment making my money grow Estelle Osorio, Certified Investment Solicitor (CIS) The problem with these types of schemes, Osorio explained through a diagram, is that they often fail when investors can no longer lure new investors. Older investors must be able to gain from profits earned out of the business itself instead of commissions from recruitment. In the end, people lose their money when newly-lured investors cash-out and the promoters run away with the money already invested. 3. Vague information may mean deceptive information. Osorio told the crowd to always probe to protect their interests. How much is the minimum placement What is the rate of return When are investments expected to return One must be on a constant information-seeking mode when looking for where to invest ones family earnings. Think twice about investing in a company that is not transparent about how profits are earned or offers vague and confusing explanations about where money is invested, Osorio said. If you dont understand how you will make money, do not invest in it, she said. Anire also advised the OFW groups not to entrust their money to just anyone, much less people they do not know. He used as example family members or personal friends who fail to pay their debts on the set date. Paano pa yung hindi mo kakilala (How much more those who you do not know) he asked rhetorically. Pinaghirapan na pera yan biglang mawawala, dahil nagtiwala kayo agadLaging nasa huli ang pagsisisi , he said. (That is hard-earned money that will just be put to waste, because you trusted too easily. Regrets always come at the end.) 4. Double-check with government data Osorio advised would-be investors to do their due diligence. She said one must look into a companys track record. Check if the company is registered with the Securities and Exchange Commission (SEC). A SEC company registration does not grant the authority to sell investment instruments such as securities, bonds, and commercial papers. For insurance products, I suggest always consult the insurance commission website. If the company is not on the list, dont buy, she said. Osorio likewise shared a few features of Internet-based Ponzi Investment Schemes, based on a SEC warning. Named after scammer Charles Ponzi, a Ponzi scheme is a fraudulent operation intended to convince the public to invest their money. It generates returns for earlier investors by tapping subsequent ones. The SEC said that Internet-based Ponzi schemes have investments in foreign currency (often US dollars), offer a huge profit in a very short period of time, have no paper trail such as contracts and receipts, provide for a lock-up period wherein an investor cannot touch hisher investment for a number of daysmonths, have unknown offices and officers, and conduct orientation seminars informally. When dealing with investment offers by phone, e-mail, flyers, newspaper ads, or directly by any person, always know the company or the person you are speaking with. Get the landline number, which can be traced, instead of a cellphone number. Anire and Osorio were invited guests in the OFW-targeted forum hosted by the Blas Ople Policy Center and Training Institute and the Villar Social Institute for Poverty Alleviation and Governance. Rappler