The Commodity Futures Trading Commission’s Division of Enforcement today is alerting customers the Traders Domain claims process will end July 28. Customers who believe they may be victims in this alleged fraud scheme are urged to complete the claims process by this date to be eligible for any future judgment. The Division of Enforcement is also notifying customers that prior participation in the CFTC’s voluntary confidential customer survey or any other submission made to the CFTC does NOT qualify an individual as a claimant. An official claim must be filed.
On September 30, 2024, the CFTC filed a civil enforcement action in the U.S. District Court for the Southern District of Florida charging fraud and misappropriation against the following defendants: Traders Domain FX Ltd., d/b/a The Traders Domain; Ares Global Ltd., d/b/a Trubluefx; Fredirick Teddy Joseph Safranko aka Ted Safranko; David William Negus-Romvari; Algo Capital LLC.; Algo FX Capital Advisor LLC., now known as Quant5 Advisor LLC.; Robert Collazo Jr.; Juan Herman aka JJ Herman; John Fortini; Steven Likos; Michael Shannon Sims; Holton Buggs Jr.; Centurion Capital Group Inc.; Alejandro Santiestaban aka Alex Santi; Gabriel Beltran; and Archie Rice. [Civil Action No. 24-cv-23745-RKA] [See CFTC Press Release No. 8997-24]
In its continuing litigation, the CFTC seeks full restitution to defrauded customers, disgorgement of any ill-gotten gains, civil monetary penalties, permanent trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations, as charged.
Information on the court-appointed receivership and how to file a claim by July 28 is here.
