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Federal Court Orders Oregon Resident and His Forex Trading Firm to Pay $830,000 in Civil Penalties for Commodity Fraud and Registration Violations
The Commodity Futures Trading Commission today announced that the U.S. District Court for the District of Oregon entered a consent order for permanent injunction, monetary sanctions, and equitable relief against defendants Erik J. Hass and his company Simply Gains, Inc. The order resolves a CFTC action filed against the defendants on June 9, 2020, alleging they fraudulently solicited millions of dollars from unsuspecting customers for trading retail leveraged, margined, or financed foreign currency (forex) and failed to register as required under the Commodity Exchange Act (CEA). The order follows a guilty plea Hass ... (full story)
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