A Texas man pleaded guilty today in the Southern District of Texas to defrauding investors that he solicited via social media by falsely promising high rates of return and low or no-risk returns on foreign exchange investments. According to court documents, Kelvin Ramirez, 25, of Houston, used social media platforms to falsely promote himself as a successful trader of foreign exchange investments or “forex” and attract investors. Through his Instagram accounts, Ramirez marketed “investment groups” and “private accounts” that purportedly traded in forex and were managed by Ramirez. For both types of investments, ... (full story)