Fake FOREX Futures Finaglers Find Time on Their Side

How do con artists rip people off with FOREX trading scams? The "brokers" make the usual appeals found in other financial scams:

• Invest now before it's too late!


• You'll make tons of money!


• Trust us--we're experts!

A representative case is described in the U.S. Comodity Futures Trading Commission order imposing about $6 million in sanctions against Florida company (Florida!) Global Atlantic Management and the ass running it, Steven Labell.

In short, Labell's broker's used scripted pitches to lure in customers while touting huge pofits--even as they avoided discussing the risks and the firm's abysmal track record in investing.

At least 241 customers lost substantially all their assets.

But at last justice is served. Better make that at long last--the recent action stems from a complaint filed three years ago, and the robbing had been going on before that.

The caveat: given Florida's demographics, at least some of those who were scammed are dead by now, even if the perps have any money to disgorge.

Image from the FBI White Collar Crime site.