US regulators have taken oath to decapitate any firm running Ponzi Schemes after the Madoff disaster. A Maryland court has found Borrowing Station LLC guilty of fraud, misappropriation and registration violations in relation to margin FX.

The CFTC was called to Borrowing Station LLC after several complains were put forward by investors who were deceived by owner Sidney J. Charles.

The charges brought forward claim that Charles and Borrowing Station had fraudulently solicited funds from 18 individuals during October 2009 till July 2011, with an average of $35,000 for investments in Forex . Charles' firm allegedly promised clients returns of 25% per year or 10% per month and offered guarantees against trading losses. The complaint further states that trading was in fact making losses.

It is believed that Borrowing Station had mis-used around $290,000.

Since the credit crisis the CFTC have been aggressively targeting unregulated firms trading in margin FX. US residents can only trade with US based brokers.

US regulators have taken oath to decapitate any firm running Ponzi Schemes after the Madoff disaster. A Maryland court has found Borrowing Station LLC guilty of fraud, misappropriation and registration violations in relation to margin FX.

The CFTC was called to Borrowing Station LLC after several complains were put forward by investors who were deceived by owner Sidney J. Charles.

The charges brought forward claim that Charles and Borrowing Station had fraudulently solicited funds from 18 individuals during October 2009 till July 2011, with an average of $35,000 for investments in Forex . Charles' firm allegedly promised clients returns of 25% per year or 10% per month and offered guarantees against trading losses. The complaint further states that trading was in fact making losses.

It is believed that Borrowing Station had mis-used around $290,000.

Since the credit crisis the CFTC have been aggressively targeting unregulated firms trading in margin FX. US residents can only trade with US based brokers.