CFTC fines SA resident for forex fraud
The court found that James de Wet, of Team Forex International (Team Forex), made misrepresentations on his website, www.teamforex.com.
He was ordered to pay $828,390 in restitution to victims of the fraud and a $120,000 civil monetary penalty.
Furthermore, the court ordered de Wet to pay $63,070 in ill-gotten compensation received as a result of violating the Commodity Exchange Act.
The complaint alleged that since October 2002, at least 200 customers opened forex futures trading accounts to be
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