Image credit: By United States of America Government [Public domain], via Wikimedia Commons The United States of America Commodity Futures Trading Commission (CFTC) has charged the founders of SchoolofTrade.com (SOT) alongside fraudulently marketing futures trading systems.
According to the complaint, Joseph Dufresne, Megan Renkow together with their companionship United Business Servicing. Inc., accept been lying nearly the surgical operation metrics of their trading systems together with the nature of the activeness inwards the SOT’s alive trading room, since 2011:
“Defendants sold at to the lowest degree 877 memberships inwards SoT together with took inwards to a greater extent than than $2.7 1000000 during the catamenia charged inwards the CFTC’s Complaint.”
The CFTC alleges that Dufresne was falsely portrayed past times SOT every bit a trading professional person alongside stellar credentials together with surgical operation history, “in fact, Dufresne has picayune experience, has never been professionally recognized, together with has never been a profitable trader,” states the
press release.
The fiscal watchdog also charged SOT alongside failing to display the required disclaimers on solicitation materials per CFTC Regulations, which demand fiscal advisors to the world “their results are based on simulated or hypothetical surgical operation results together with produce non correspond actual trading.”
The way says that Forex together with Commodity Pool Fraud accept been on the rise. The
Fraud Advisories department on the CFTC site is dedicated to educating investors on spotting potential scams.