CFTC Charges & Freezes Assets of Previously Convicted FX Fraudster Alex Ekdeshman
by
Adil Siddiqui
A US court has placed a restraining order on two fraudsters stating that their assets will be frozen. Directors of EJS Capital Management were charged with misappropriation of $2 million of investor funds.
A desperate con artist who is in breach of a US District Court Order has been charged by a New York court for carrying out another FX scam. Alex Vladimir Ekdeshman of EJS Capital Management and his accomplice Edward J. Servider were served the notice by the country’s financial watchdog.
The U.S. Commodity Futures Trading Commission (CFTC) reported that the U.S. District Court for the Southern District of New York, on May 1, 2014 issued a restraining order against the two defendants. The court’s order states that it is applying a restraining order thus freezing the firm's assets and prohibiting the destruction or concealment of books and records.
Complaints raised against the defendants highlight the deceptive nature of the act. Details of the court’s order explains that the defendants had solicited more than $2 million, during their dealings with investors the two had issued false account statements whilst trading Client Money in FX.
Surprisingly, the firm’s website is currently active with a US telephone number and address. In the company's 'About Us' section on its website, the firm explains: “EJS Capital Management is a dedicated team of successful FOREX traders. Its team members bring a wealth of industry expertise and experience.” Mr. Ekdeshman’s Linkedin profile states that he is the CEO of Paramount Management.
The case also mentions Alisa Ekdeshman and Michael Vilner who are named as Relief Defendants.
The CFTC has been actively targeting firms and individuals involved in the illegal trading and fraudulent activity relating to foreign exchange. The current case signifies how a previously issued notice from the courts had little or no impact on the fraudster re-engaging in financial crime.
The earlier issued court order against Ekdeshman has permanently prohibited him ‘from cheating or defrauding other persons, from soliciting, receiving or accepting funds from any person for the purpose of purchasing or selling Forex contracts, and from engaging in any activity requiring registration with the CFTC.’
A number of domestic and international agencies were involved in the case including; U.S. Attorney’s Office for the Southern District of New York, the FBI, the United Kingdom Financial Conduct Authority, the l'Autorité des Marchés Financiers du Québec, and the Financial Services Board of the Republic of South Africa.
A desperate con artist who is in breach of a US District Court Order has been charged by a New York court for carrying out another FX scam. Alex Vladimir Ekdeshman of EJS Capital Management and his accomplice Edward J. Servider were served the notice by the country’s financial watchdog.
The U.S. Commodity Futures Trading Commission (CFTC) reported that the U.S. District Court for the Southern District of New York, on May 1, 2014 issued a restraining order against the two defendants. The court’s order states that it is applying a restraining order thus freezing the firm's assets and prohibiting the destruction or concealment of books and records.
Complaints raised against the defendants highlight the deceptive nature of the act. Details of the court’s order explains that the defendants had solicited more than $2 million, during their dealings with investors the two had issued false account statements whilst trading Client Money in FX.
Surprisingly, the firm’s website is currently active with a US telephone number and address. In the company's 'About Us' section on its website, the firm explains: “EJS Capital Management is a dedicated team of successful FOREX traders. Its team members bring a wealth of industry expertise and experience.” Mr. Ekdeshman’s Linkedin profile states that he is the CEO of Paramount Management.
The case also mentions Alisa Ekdeshman and Michael Vilner who are named as Relief Defendants.
The CFTC has been actively targeting firms and individuals involved in the illegal trading and fraudulent activity relating to foreign exchange. The current case signifies how a previously issued notice from the courts had little or no impact on the fraudster re-engaging in financial crime.
The earlier issued court order against Ekdeshman has permanently prohibited him ‘from cheating or defrauding other persons, from soliciting, receiving or accepting funds from any person for the purpose of purchasing or selling Forex contracts, and from engaging in any activity requiring registration with the CFTC.’
A number of domestic and international agencies were involved in the case including; U.S. Attorney’s Office for the Southern District of New York, the FBI, the United Kingdom Financial Conduct Authority, the l'Autorité des Marchés Financiers du Québec, and the Financial Services Board of the Republic of South Africa.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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