David Smith: same person involved with two Forex companies gone bad
David Smith was in charge of the Olint FX pyramid scheme and was once listed as principal at I-Trade.
On February 5th 2009 David James was arrested in Jamaica and charged with 5 counts of fraud with regards to the Olint FX pyramid scheme which offered investors as much as 10% in monthly returns. Partial list of his victims, who jointly lost few tens of millions, can be found here: https://forum.jampersonals.com/Default.aspx?g=posts&t=1032
On April 24, 2009, NFA's designated Panel of the Hearing Committee issued a Decision to I Trade and its current principal Isaac Martinez after a hearing was held. The hearing panel ordered I Trade to pay a $250,000.00 fine and to retain an independent auditing firm to conduct four semi-annual audits to review Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with the Bank Secrecy Act, the implementing regulations, NFA's AML rules, and I Trade's own AML procedures. https://www.nfa.futures.org/basicnet/Case.aspx?entityid=0367140&case=08BCC00014&contrib=NFA
If there's smoke there is fire..
David Smith was in charge of the Olint FX pyramid scheme and was once listed as principal at I-Trade.
On February 5th 2009 David James was arrested in Jamaica and charged with 5 counts of fraud with regards to the Olint FX pyramid scheme which offered investors as much as 10% in monthly returns. Partial list of his victims, who jointly lost few tens of millions, can be found here: https://forum.jampersonals.com/Default.aspx?g=posts&t=1032
On April 24, 2009, NFA's designated Panel of the Hearing Committee issued a Decision to I Trade and its current principal Isaac Martinez after a hearing was held. The hearing panel ordered I Trade to pay a $250,000.00 fine and to retain an independent auditing firm to conduct four semi-annual audits to review Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with the Bank Secrecy Act, the implementing regulations, NFA's AML rules, and I Trade's own AML procedures. https://www.nfa.futures.org/basicnet/Case.aspx?entityid=0367140&case=08BCC00014&contrib=NFA
If there's smoke there is fire..