CFTC Charges David Ortiz and his Companies, Goyep International and Royal Returns with a Forex Scam

Federal court freezes defendants’ assets and protects books and records. Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC)

Federal court freezes defendants’ assets and protects books and records.

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed an anti-fraud enforcement action against defendants David L. Ortiz of Vero Beach, Fla., and his companies, Goyep International, Inc., of Vero Beach, Fla., and Royal Returns, Inc., of Hollywood, Fla., charging them with operating a fraudulent off-exchange foreign currency (forex) scheme that accepted funds totaling at least $420,000 from at least 10 customers. None of the defendants has ever been registered with the CFTC.

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The CFTC complaint, filed on February 23, 2011, in the U.S. District Court for the Southern District of Florida, alleges that the defendants misappropriated at least $232,000 of customer funds for their own benefit, including using the funds for personal shopping at retail department stores, travel, resort hotels, restaurants, utility bills, car payments, personal credit cards and sending funds directly to the relief defendants, Loredana Ortiz of Vero Beach, Fla., and Natural Health Matters, L.L.C. of Pembroke, Fla. The CFTC complaint names them as relief defendants because they allegedly received customer funds to which they had no entitlement.

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On February 24, 2011, Judge K. Michael Moore entered an emergency order freezing the defendants’ assets and prohibiting the destruction of books and records.

The rest here, Complaint here and Order here.

 

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