CFTC fines Florida forex firm
TECHNOLOGY NEWS
The court has ordered that G7 pay $2.1 million in restitution and a $1.5 million civil monetary penalty. The order also permanently bans all defendants from engaging in any market-related activity, including trading and soliciting customers to invest in any futures or options.
The court found that G7 fraudulently solicited nearly $2.1 million to invest in FX options from at least 136 retail customers internationally. The fraud involved misrepresenting the profit potential and risk involved in
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