CFTC Charges FX Trader Jason Amada and Firm with Fraud

[kreslik.news]

The Commodity Futures Trading Commission (CFTC) filed a federal court enforcement action on Wednesday against Jason Amada and Amada Capital Management LLC(ACM), an entity which he owns and controls based in New York. The action was filed in the United States District Court for the Southern District of New York.

The CFTC Complaint charges Amada with soliciting potential clients in a fraudulent manner to open managed trading accounts for off-exchange forex contracts. In particular, one tactic used was to overinflate his trading experience and profitability.

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The complaint from the commodities regulator ... (read more)