CFTC charges ROFX.net in $58 million forex fraud scheme

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2020/06/CFTC-Fraud.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="CFTC" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2020/06/CFTC-Fraud.jpg 730w, https://www.leaprate.com/wp-content/uploads/2020/06/CFTC-Fraud-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2020/06/CFTC-Fraud-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2020/06/CFTC-Fraud-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2020/06/CFTC-Fraud-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2020/06/CFTC-Fraud-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>CFTC alleges that the ROFX website claimed to trade forex using a highly successful automated trading robot with guaranteed coverage of losses. More than 1,100 customers opened trading accounts through the website and deposited their money in the name of one or more of the companies, all controlled by the individual defendants.</p>
<p>All of the funds the defendants obtained by the defendants, they misappropriated by wiring to non-trading corporate entities in Poland, Thailand, and elsewhere, as well as to the individual defendants themselves.</p>
<p>Additionally, the regulator discovered that companies acted as futures commission merchants by doing business as ROFX. They solicited or accepted orders for retail forex transactions via the ROFX website, and accepted funds related to such transactions without being registered with the CFTC.</p>
<p>The CFTC noted that it seeks restitution to the affected individuals, disgorgement, civil monetary penalties, bans and injunctions against further violations.</p>
<p>Earlier in December, the <a target="_blank" href="https://www.leaprate.com/tag/cftc/" rel="noopener">CFTC</a> filed charges against WorldWideMarkets, Ltd., TAB Networks, Inc., Thomas Plaut and Arthur Dembro in a <a target="_blank" href="https://www.leaprate.com/financial-services/fraud/cftc-files-charges-in-a-multi-million-dollar-forex-fraud/" rel="noopener">multi-million-dollar forex fraud.</a></p>
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