Nine Year Sentence for Forex Fraud. Too harsh or not enough? - Page 4

notbob · (#31 (**permalink**))

The old saying goes: you reap what you sow. Ask the people who lost their money if 9 yrs is long enough.

Pharaoh · (#32 (**permalink**))

Compared to what could have happened, I guess he got off light. I just read about a guy in Egypt who defrauded people out of about $52 million dollars. His sentence is 1000 years (not a typo - 1 thousand years).

The best part of the article was that a court official said he did not know when this criminal would be eligible for parole.

martin01 · (#33 (**permalink**))

Forex is such a small name but big actions. People going on the small name and having clemence losses. It is such a huge market that before entering this market one should have a proper knowledge of it. Learn more about it search on internet there you will find many websites telling about forex and educate you about forex. Search for brokers have demo accounts use demo accounts for trading before going for real trading.

As people who had invested money in this market without knowledge and vanished off their hard earned money in few years. So first educate your self and gather more knowledge about it. Make your own trading strategies, use indicators like pivot point, moving averages etc. If you have signed with some broker and willing to open a trading account first go for a mini account which requires a minimum deposit every broker has their own minimum deposit in mini accounts. So first try for it and then only go for standard account. You will find many brokers in the market having the facility of mini accounts like the AVAFX,eToro, easy forex, iforex etc.

Codezilla · (#34 (**permalink**))

Foolish mistake or not, we're talking about other people's money here. Two words come to my head when I think about working with other people's money...Zero Defect. Zero Defect doesn't refer to the performance of the fund, but to only using that money for Forex trading, nothing else. I'm sure he got a pretty hefty profit from the fees he was charging the investors, and that should've been the only money used for his other ventures. He can play golf at Club Fed for 9 years.