CFTC Charges Dorian Garcia With $17.5M in Fines After FX Ponzi Scheme
Posted: Tue Jul 05, 2016 10:01 am
The US’ Commodity Futures Trading Commission (CFTC), one of the most active regulatory authorities in the country, has announced the final verdict by a US District Court in Florida that required Dorian Garcia and his companies pay a restitution sum of over $5.0 million after conducting a Ponzi scheme, per a CFTC manifest.
Garcia and his companies, e.g. DG Wealth Management, Macroquantum Capital LLC, UKUSA Currency Fund, and DG Wealth’s successor, Quanttra LP were obliged to pay $5,051,052 after defrauding investors in an ongoing market abuse scheme between 2010 to 2015. Furthermore, Garcia and his entities were also on the hook ... (read more)