CFTC charges unregulated futures brokers
FRONT PAGE NEWS
Forex fraud in the US has continued unabated, since regulations governing the management of retail FX funds were initially introduced six years ago (FX Week, April 16, 2001).
The Commodity Futures Trading Commission (CFTC) and the US District Court for the Southern District of New York is demanding more than $22 million from New York-based Century Maxim Fund, AJR Capital, and their principal Alexsander Efrosman.
The ruling ends a case initiated on September 30, 2005, when the CFTC filed charges
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