Category Archives: CFTC (Commodities Futures Trading Commissions)

Boynton Beach, FL Resident Named in Forex Fraud Order

February 4, 2016- Boynton Beach, Florida

The U.S. Commodity Futures Trading Commission (CFTC) announced that a Federal Court issued a Consent Order against Robert Tripode of Boynton Beach, FL, in connection with his fraudulent activities as an employee and agent of Forex Monthly Income Fund (FMIF), requiring him to pay a penalty of over $170,000 and restitution to victims of the same amount.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Dania Florida Resident Named in Commodities Fraud Action

February 5, 2016- Dania Beach, Florida

The U.S. Commodity Futures Trading Commission (CFTC) charged Rico Omar Cox (aka Omar Negron) of Dania Beach, FL, with commodity trading advisor fraud. According to the complaint Cox used Craigslist and other sites to solicit $500,000 from investors.

In addition, Cox failed to disclose that he had felony convictions in 2013 for fraud, grand theft, and acting as an unlicensed mortgage broker, and he failed to register with the CFTC as a Commodity Trading Advisor.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Ponca City Oklahoma Resident Named in Regulatory Action

January 20, 2016-Ponca City, Oklahoma

THe U S Commodity Futures Trading Commission (CFTC) filed an enforcement action against Kevin J. Davis charging him with acting as an unregistered commodity pool operator and entered a temporary restraining order prohibiting Davis from acting in any capacity requiring registration with the CFTC. His assets were frozen as well.

According to the CFTC since at least February 2012 Davis solicited $2.7 million for the purpose of trading off-exchange foreign currency contracts.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

South Florida Men Named in Alleged Commodities Scam by Regulators

September 17, 2015

The U S Commodity Futures Trading Commission (CFTC) announced  the filing of an enforcement action in US District Court for the Southern District of Florida against:

  • Mintco LLC of Delray Beach, FL
  • Stuart Rubin of Ft. Lauderdale, FL
  • Richard Q. Zimmerman of Wellington, FL

The CFTC alleges in their complaint that since July 2011, Mintco, Rubin and Zimmerman have unlawfully solicited sales of precious metals such as gold, silver, platinum and palladium, from low net worth individuals using the Mintco website and cold calling.

According to the complaint, Mintco charged commissions and fees as high as 37.5% of the investment and failed to inform customers that in excess of 80% of customers failed to earn a profit on their investments.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Former Church Pastor Wesley Allen Brown Charged with Fraud by CFTC

March 31,2015

The U.S. Commodity Futures Trading Commission (CFTC) file a civil enforcement action in the District Court for the Middle District of Florida against Maverick International and principals Wesley Allen Brown, of North Myrtle Beach, South Carolina  and Edward Rubin, of Winnabow, North Carolina,  who were charged with operating a fraudulent commodity pool and other federal commodity laws.

The complaint alleges that Brown used his position as associate pastor at a church in Flagler Beach, Florida, to solicit church members to participate in the fraudulent scheme.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Tex-Based Financial Robotics, Inc. Hit With $3Million + Penalty

The US Commodity Futures Trading Commission (CFTC) announced on October 24, 2014, that Judge Lee H Rosenthal of the US District Court for the Southern District of Texas entered a default judgment and permanent injunction against Financial Robotics, Inc. ordering payment of more that $3 million in penalties and restitution.

The order finds that Financial Robotics and its controlling person Mark E. Rice operated a fraudulent scheme that solicited $1.7 million from an individual to trade leveraged off-exchange foreign currency contracts. The order says they told the victim the investment was risk free, insured against loss and that principal was guaranteed. Much of the customer funds were used to pay Rice’s personal and business expenses.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900