July 7, 2011
The following is an excerpt from the SEC website:
“Washington, DC
The order arises out of a CFTC civil complaint filed under seal on June 29, 2011 in the U.S. District Court for the Southern District of Texas. The complaint charges Rice and FinRob with fraudulently soliciting millions of dollars from at least one individual to trade off-exchange foreign currency (forex) through accounts that they managed. In their solicitations, the defendants allegedly falsely claimed that their investments were insured against loss. The defendants also falsely guaranteed the return of the principal amount invested, according to the complaint.”
- The U.S. Commodity Futures Trading Commission (CFTC) announced that a federal court in Houston entered an order freezing the assets of Mark E. Rice of Sugar Land, Texas, and his company, Financial Robotics, Inc. (FinRob) of Houston, Texas. The order, entered by Judge Lee H. Rosenthal, also prohibits the destruction of books and records and appoints a temporary receiver. The judge ordered Rice and FinRob to appear in court on July 28, 2011 for a preliminary injunction hearing.
No comments:
Post a Comment