US Court issues Receivership Order in CFTC case targeting fraudulent FX scheme OIG

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Burton W. Wiand, Esq. of Wiand Guerra King P.A. has been made to serve with bond as receiver for the property of the defendants. The Order also constitutes the appointment or re-appointment of the receiver.

FinanceFeeds –
The Receiver shall likewise take all necessary measures to allow the Receivership Funds to obtain and maintain the standing of a taxable”Settlement Fund”.
As per the Order, the Receiver is authorized to take immediate possession of assets, bank account or other financial accounts, records and books, and all other documents or instruments regarding the Receivership Defendants.

Each of receivership property remains frozen until further order of the Court. Accordingly, all individuals and entities having direct or indirect control over any Receivership Home, apart from the Receiver, are hereby restrained and enjoined from directly or indirectly moving, setting off, getting, shifting, selling, pledging, assigning, liquidating or otherwise disposing of or withdrawing such assets. This freeze shall include, but not be limited to, even Receivership Real Estate that is on deposit with financial institutions like banks, brokerage firms, and mutual funds. This freeze will also include but not be limited into Receivership Property kept as real property, personal property, intangibles, antiques, metals, along with cryptocurrencies.
Permit ’s recall thatin its Complaint, the CFTC said the defendants were engaged in a fraudulent scheme to solicit and misappropriate money from over 700 U.S. residents for pooled investments at retail FX contracts. The CFTC also alleged between mid-April 2014 along with mid-April 2019, the defendants fraudulently solicited countless members of people to invest roughly $75 million in two commodity pools which purportedly would exchange in Forex. As opposed to utilize pool participants’ capital for currency trading as guaranteed, but the defendants traded only a small portion of pool funds in forex — that trading incurred losses — and rather misappropriated that the majority of pool participants‘ capital and issued false account statements to pool participants to hide their trading reductions and misappropriation.

The proceeding against deceptive Forex scheme Oasis International Group, Ltd. (OIG) as well as the entities and individuals associated with it continue at the Florida Middle District Court.
The Receiver is authorized to take all actions to handle, maintain, or wind-down business operations of the Receivership Defendants, including: (I) furloughing, terminating, and/or engaging employees on a contract basis; (ii) shutting the business; and (iii) making legally compulsory payments to creditors, employees, and representatives of their Receivership Estates and communication with vendors, investors, governmental and regulatory authorities, and many others, as appropriate.

The latest filings in the case caused by the Commodity Futures Trading Commission (CFTC) comprise a Consolidated Receivership Order.
According to the Order, viewed by FinanceFeeds, the Court takes exclusive jurisdiction and possession of the resources of the next Defendants and Relief Defendants: Oasis International Group, Limited; Oasis Management, LLC; Satellite Holdings Company; Michael J. DaCorta; Joseph S. Anile, II; Raymond P. Montie, III; Francisco”Frank” L. Duran; John J. Haas; Bowling Green Capital Management, LLC; Lagoon Investments, Inc.; Roar Of The Lion, Fitness, LLC; 444 Gulf of Mexico Drive, LLC; 4064 Founders Club Drive, LLC; 6922 Lacantera Circle, LLC; 13318 Lost Key Place, LLC; and 4Oaks LLC.

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