Savvy Consumer Information Center - Scams and Frauds
Savvy Consumer Information Center - Scams and
Frauds
Scams and
Frauds
Here are some of the
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CFTC Charges California Boiler Room, British Capital
Group and Its President, With Defrauding Customers in Foreign Currency (Forex) Scam -
The U.S. Commodity Futures Trading Commission (CFTC) announced the filing of a federal complaint in the Northern
District of Illinois charging a pair of Nevada corporations doing business in California under the name British Capital
Group (British Capital), and British Capital President Michael Zelener with defrauding customers who invested in foreign
currency (forex) futures. The Chicago, Illinois, firm of AlaronFX (AFX), a purported foreign currency dealer that held the
customer funds, is also charged with liability for the fraudulent conduct.
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