CFTC v. CDH Forex Investments, LLC et al., Case No. 3:11 cv-02862-F (N.D. Tex.). On June 12, 2012, the CFTC obtained a federal court order requiring Linda Harris, Chance Harris, and their companies, CDH Forex Investments, LLC and CDH Global Holdings to pay more than $5.4 million in restitution and civil monetary penalties. The CFTC accused the defendants of committing fraud in connection with the operation of a commodity pool and managed accounts trading off-exchange foreign currency (Forex) contracts. As a result of the fraudulent solicitation, individuals invested over $2.2 million, of which defendants sustained substantial trading losses and misappropriated about $350,000 to pay rent on Harris’s family home, make payments on a leased BMW, and pay credit card bills. Defendants also are charged with issuing false account statements to investors in the pooled account in order to perpetuate the fraud. Linda Harris further provided fraudulent statements to the National Futures Association (NFA), including falsified trading account statements and falsified bank statements, to hide the ongoing fraud from the NFA.
- SEC Charges Microsoft Manager Brian Jorgenson and his Friend Sean Stokke with Insider Trading
- SEC Obtains Emergency Relief against Robert Helms and Janniece Kaelin in Alleged Ponzi Scheme
- SEC Charges Fifth Third Bancorp and its Former CFO Daniel Poston with Fraud for Accounting Practices during the Financial Crisis
- SEC Settles Insider Trading Case against Charles Langston III
- SEC Settles Penny Stock Case Against Curt Kramer for $1.4 Million
Other BraunHagey Blogs