The U.S. Commodity Futures Trading Commission (CFTC) today announced that on January 29, 2016, the Honorable Richard M. Berman, U.S. District Judge for the U.S. District Court for the Southern District of New York, ordered Defendants 4X Solutions, Inc. (4X) and its principal, Whileon Chay, both of New York City, jointly and severally to disgorge $2,745,226 and pay a civil monetary penalty of $8,235,678 in connection with a foreign currency (forex) trading Ponzi scheme (see CFTC Press Release and Complaint 6559-13, April 8, 2013, CFTC Charges New York Firm 4X Solutions, Inc. and its Principal, Whileon Chay, with Forex ... (full story)