2011 Non-Broker Forex Scam of the Year Nominees

[AsstModerator]

2011 Non-Broker Forex Scams of the Year Nominees
(in chronological order)​

The implementation of the FPA Traders Court reduced the total number of full scale SCAM findings. There are 3 nominees in the Non-Broker Category this year. Here they are...


GTCapitalInvestments.com aka Green Tree Capital and Lyndon Parrilla

This company got 2 Traders Court verdicts against it before the CFTC and the FBI busted the guy in charge. He was accused of trading only a small portion of the money in forex and spending a lot of money on other things. These things include about $130,000 for a car and about $950,000 spent at casinos. Statements sent to customers made it look like their funds were being used to trade forex. The NFA has permanently barred him from membership.

Discussion Thread for FPA Scam Finding against Green Tree Capital

Original complaint thread against GreenTree by Traveler

FPA Traders Court verdict for Traveler's case

Original complaint thread against GreenTree by Slier

FPA Traders Court verdict for Slier's case

FBI press release for charges against Mr. Parrilla and Green Tree

NFA permanently bars Lyndon L. Parrilla from membership

FPA Review Page for GTCapitalInvestments.com

FPA Scam Finding against GT Capital


RedUluru.com

The fakest advertising I've ever seen. These idiots created their own fake 4.75 star FPA rating to post on their website. The reviews they show have been edited and were left for other products. Their other testimonials were stolen from other websites. All of those reviews and testimonials were originally from other products.

They didn't even have an FPA review page when they did this. They have one now. Their rating is SCAM.

Even after the scam finding, they still claim to have that good rating from the FPA. Some people just can't stop lying.

Discussion Thread for the Scam Finding against Red Uluru

FPA Scam Finding against RedUluru

The Real FPA Review Page for RedUluru.com


CDHForex.com aka CDH Global

Another managed account company charged by the CFTC with making false statements, and misappropriation of investors’ funds in connection with the trading of forex. While claiming to be profitable, the defendants were charged with misappropriating about $350,000 for personal expenses while losing money trading the rest.

Discussion Thread for FPA Scam Finding against CDHForex

CFTC Press Release about CDH

NFA Case Summary for CDH

FPA Scam Finding against CDH Forex

Review Page for CDHForex.com



Two of this years scam findings involve managed forex. If you haven't done so already, I recommend reading Pharaoh's article on how to avoid managed forex fraud.


Voting will remain open for about 3 months.

 

[RahmanSL]

All 3 justifiably deserve that unsavory title....and a big kick on the rear

No option to vote that way???

 

[AsstModerator]

I wish I could give the title to all of them, but only one can win the award. The other two can fight for second and third place.

 

[Pharaoh]

Such a hard choice. Two stole a lot of money, but have been shut down. RedUluru is still in business, but is only ripping people off for small amounts via false advertising. Decisions, decisions.