Black Diamond Capital Solutions Ponzi Scam Unveiled

The folks at Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Peace Army have done a good job gathering all the relevant links on the internet so I'll just provide a brief summary and link to their post:

A North Carolina businessman, Keith Simmons, has been charged with fleecing investors in his hedge fund to the tune of $35 million.

Simmons has been charged with conspiracy, wire fraud and securities. Simmons called his hedge fund Black Diamond Capital Solutions and raised money from 240 investors, claiming to invest it in foreign currencies. According to authorities, none of the money raised was used to invest in the claimed asset class. $20 million was used to repay investors between 2007 and September 2009. The rest were used to purchase real estate, claim business expenses and arrange luxuries like limousines, chartered flights and hotel rooms for him and his employees.

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