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Retail FX

Another Director of $180m FX Ponzi Scheme Faces 10 Years in Jail

  • After Irevasi and Papoulias pled guilty, the court charged Sipina with criminal offences.
  • The Ponzi scheme operated for almost seven years.
by Damian Chmiel
News

US State Issues Cease and Desist Order against DApp Forsage

  • “Forsage does not try to hide the fact they are a pyramid scheme,” Commissionaire Downing said.
by Arnab Shome
News

OneCoin Lawyer Mark Scott Banned from Practicing Law in New York State

  • Scott reportedly laundered $400 million for 'CryptoQueen' Ruja Ignatova, $50 million of which he collected in fees.
by Rachel McIntosh
News

Brazil Busts Crypto Pyramid Scheme Involving $210 Million

  • The scheme offered 15 percent payout in the first month of investment.
by Arnab Shome
Regulation

Ukraine's SBU Shuts Down Pyramid Scheme Forex Trend Limited

  • Fraudsters managed to steal $12.5 million from residents in Ukraine and other EU countries.
by Celeste Skinner
News

Firm Openly Runs Pyramid Scheme and Exit Scam, Makes Millions Anyway

  • The self-proclaimed "psychology social experiment in greed" is doing great business.
by Simon Golstein
News

OSC Issues Temporary ‘Cease Trade Order’ on Suspected Bitcoin MLM Scheme

  • Several other Canadian provinces have issued their own warnings to investors against USI Tech.
by Rachel McIntosh
News

Russian Scam Artist Mavrodi to Relaunch Cryptocurrency on Ethereum

  • "Financial apocalypse is inevitable.”
by Simon Golstein
News

Cryptocurrency Pyramid Scheme Busted in South Korea - $250 Million Stolen

  • Arrests made after Mining Max scammed 18,000 people; management flees the country.
by Simon Golstein
Regulation

Federal Court Orders Charlotte, NC, Couple and Their Companies to Pay $24 Million for Defrauding Customers in Forex Ponzi Scheme

  • Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced it obtained a federal court supplemental consent order requiring defendants Sidney S. Hanson, Charlotte M. Hanson, and their companies, Queen Shoals, LLC, Queen Shoals II, LLC, and Select Fund, LLC, to pay $24 million in restitution and civil monetary penalties for defrauding customers and misappropriating millions of dollars in a foreign currency (forex) Ponzi scheme (see CFTC Press Release 5689-09, August 7, 2009).
by Michael Greenberg
Analysis

David Smith pleads guilty to a $220 million forex ponzi scheme

by Michael Greenberg
Analysis

Willie Lee Cloud and C & R Financial ordered to pay $5.35 million in a forex scheme

by Michael Greenberg
Analysis

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

by Michael Greenberg
Analysis

CFTC Charges Randall Lynn Stuckey with Soliciting at Least $2.8 Million in Forex Fraud

by Michael Greenberg
Analysis

Federal Court Freezes Assets of Larry Benny Groover, Charged by the CFTC with Operating a Forex Ponzi Scheme

by Michael Greenberg
Analysis

CFTC Obtains Asset Freeze against Keith Simmons, Deanna Salazar, Bryan Coats, Jonathan Davey and Their Companies, Charged in $35 Million Forex Ponzi

by Michael Greenberg
Brokers

FXCM slapped with a class action suit over claims of fraud and racketeering

by Michael Greenberg
Analysis

CFTC Charges Anthony Eugene Linton with Operating a Forex Ponzi Scheme

by Michael Greenberg
Analysis

A Million Dollar Ponzi Lady Charged with a Forex Ponzi Scheme

by Michael Greenberg
Analysis

Black Diamond Capital Solutions Ponzi Scam Unveiled

by Michael Greenberg
Analysis

Darren Shanks and Forex Auto Profits Ordered to Pay $2.9M in Forex Fraud Case

by Michael Greenberg
Brokers

Informed Traders launch their own virtual currency - WTF?

by Michael Greenberg
Analysis

Indian forex scammer who siphoned almost $1 million from investors arrested

by Michael Greenberg
Analysis

Oklahoma Court Orders $26 Million in Penalties Against Prestige Ventures Corporation, Federated Management Group, Inc., Kenneth W. Lee and Simon Yangin in forex Ponzi Scheme

by Michael Greenberg
Analysis

Georgia Court Orders CRE Capital Corp. and its Owner James G. Ossie to Pay $25.7 Million in Forex Ponzi Scheme

by Michael Greenberg
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