Panama forex account

Commodity Futures Trading Commission CFTC today announced that it obtained a federal court Order requiring Defendants Michael Alcocer a U.

The Order also imposes permanent trading and registration bans against Alcocer and InovaTrade and permanently prohibits them from further violations of federal commodities law, as charged. Neither Defendant has ever been registered with the CFTC. The Default Judgment and Permanent Injunction Order was entered on April 5, , by Judge Joan A.

Lenard of the U. District Court for the Southern District of Florida, and stems from a CFTC Complaint filed on September 21, , that charged Alcocer and InovaTrade with solicitation fraud, providing customers with false statements, and misappropriation in connection with an off-exchange foreign currency forex trading scheme see CFTC Press Release , March 14, Using its website, as well as certain third-party introducing brokers, InovaTrade fraudulently solicited customers, both within and outside the United States, to open retail forex trading accounts — some of which InovaTrade managed and some of which it did not, the Order finds.

As part of a nationwide forex sweep, the CFTC filed a prior lawsuit against InovaTrade in January , in the U.

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District Court for the Western District of Missouri for its failure to register as an RFED see CFTC Press Release In July , the U. District Court for the Western District of Missouri issued a permanent injunction enjoining InovaTrade from continuing to operate as an RFED with U. The April 5, , Order further finds that InovaTrade falsely represented to its customers that the InovaTrade sued by the CFTC in January was a different entity.

CFTC Division of Enforcement staff responsible for this case are Margaret Aisenbrey, Jenny Chapin, Stephen Turley, Mary Lutz, Charles Marvine, Rick Glaser, and Richard Wagner.

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Commodity Futures Trading Commission Missouri CFTC Division of Enforcement Fraud 66 Richard Wagner 65 Rick Glaser 28 U. District Court for the Southern District of Florida 16 federal court 10 Stephen Turley 10 federal commodities law 9 U.

Commodity Futures Trading Commission 7 Charles Marvine 6 Margaret Aisenbrey 5 Jenny Chapin 4 U. District Court for the Western District of Missouri 2 Mary Lutz 2 alcocer 1 inovatrade 1 InovaTrade Inc. Lenard 1 Michael Alcocer 1.

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