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  • CFTC files charges in a multi-million-dollar forex fraud

    From leaprate.com

    The Commodity Futures Trading Commission has filed charges against WorldWideMarkets, Ltd., TAB Networks, Inc., Thomas Plaut and Arthur Dembro for fraud and other violations. According to the CFTC, the two firms operated a long-running scheme which defrauded retail forex investors around the world. This occurred between March 2012 and September 2018. During that time, WorldWideMarkets and TAB Networks acted as common enterprise under Plaut’s control. Dembro served as Chief Financial officer of both entities at the time and allegedly aided and abetted the fraud. The US watchdog also stated that WorldWideMarkets ... (full story)

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  • Post #1
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  • Dec 29, 2021 10:13am Dec 29, 2021 10:13am
  •  COGSx86
  • Joined Dec 2013 | Status: Member | 454 Comments
Going after the big guys, I see.
 
 
  • Post #2
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  • Dec 29, 2021 11:14am Dec 29, 2021 11:14am
  •  traderathome
  • Joined Mar 2008 | Status: PVSRA with Traderathome | 1,348 Comments
In truth, like the SEC, the CFTC does very little considering its' charter, its' funding and its' tossing of weight around to keep retail traders playing on a non-level playing field against the "professional" Big Boys!

Okay, some years ago they tossed a forex broker out of the USA for fraud. But, it was a slow effort on their part, and I suppose partly because CFTC really doesn't care about the retail traders, except to keep them at a disadvantage to the "professionals".....their friends and cohorts.

So, nice big story about CFTC, huh? And not a F...king word about reparations to the retail traders getting continuously screwed while the CFTC did........whatever they did.....so slowly, as usual!

Would be better if the CFTC had integrity and keen eye towards honesty and fairness and would back peddle on the stores they told in support of mandating FIFO, no hedging and shitty margin permissions on the retail market! This is unlikely to happen, sadly. Eventually the last retail broker will close down, too. Retailers will have to invest thru the "professionals".....as originally scripted and as is being carried out.

We will end up investing thru "professional" corporations, renting our living spaces from them, punching their slave's time clocks and receiving they puny paychecks.......

We should pray for our children. They are facing a potentially horrible future on our planet.
 
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  • Dec 30, 2021 2:55am Dec 30, 2021 2:55am
  •  DonFF
  • Joined Nov 2014 | Status: Member | 1,924 Comments
They Need more than Prayer right now!

The need awareness!

With Health System Take over by GMO companies aided and abetted by GOVT and Tech companies under the guise of COVID Vaccination.

And slavery pay that cannot buy much...While working ridiculous hours!
 
 
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  • Posted: Dec 29, 2021 8:45am
  • Submitted by:
     Newsstand
    Category: Forex Industry News
    Comments: 3  /  Views: 1,483
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