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Commodities Fraud

Massapequa, NY
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NY CEO Charged In $59M Cryptocurrency Scheme NY CEO Charged In $59M Cryptocurrency Scheme NY CEO Charged In $59M Cryptocurrency Scheme
NY CEO Charged In $59M Cryptocurrency Scheme A CEO from New York is facing charges for his role in a $59 million cryptocurrency scheme where he touted phony technology to garner additional funding, federal officials announced.  Long Island resident Eddy Alexandre, age 50, of Valley Stream, the leader of a purported cryptocurrency and forex trading platform called EminiFX, has been charged with commodities fraud and wire fraud offenses, according to US Attorney Damian Williams. It is alleged that Alexandre solicited more than $59 million in investments from hundreds of individual investors after making false representations in con…

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by Zak Failla
Wyckoff-Franklin Lakes, NJ
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Feds Indict Former Midland Park Businessman In $350,000 Ponzi Scheme Feds Indict Former Midland Park Businessman In $350,000 Ponzi Scheme Feds Indict Former Midland Park Businessman In $350,000 Ponzi Scheme
Feds Indict Former Midland Park Businessman In $350,000 Ponzi Scheme A federal grand jury on Tuesday indicted a former Midland Park man accused of scamming at least 20 people by soliciting investments in a phony foreign currency Ponzi scheme. Thomas Lanzana, 51, used the money to buy things on Amazon.com, make payments to a luxury car dealer and jewelry retailer, and for golf expenses, the government charges. Lanzana, now of Pawleys Island, South Carolina, first solicited $1.1 million from at least 45 customers to invest in what he claimed were highly successful, algorithm-based trading pools in foreign currency derivatives (forex) and other financial instru…

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by Jerry DeMarco
Hackensack, NJ
Breaking News
Ex-Bergen County Man Charged In $900G Ponzi Scheme That Funded Amazon Purchases, Cars, Golf Ex-Bergen County Man Charged In $900G Ponzi Scheme That Funded Amazon Purchases, Cars, Golf Ex-Bergen County Man Charged In $900G Ponzi Scheme That Funded Amazon Purchases, Cars, Golf
Ex-Bergen County Man Charged In $900G Ponzi Scheme That Funded Amazon Purchases, Cars, Golf A former Bergen County man was arrested in Kansas and charged with running a foreign currency Ponzi scheme in which he stole $900,000 from at least 20 investors to pay for a luxury car, jewelry and golf, U.S. Attorney Craig Carpenito announced. Thomas Lanzana, 51 formerly of Midland Park, was charged by complaint with one count each of wire fraud and commodities fraud, Carpenito said. He made an initial appearance Wednesday in federal court -- hours after his Park City, Kansas arrest. Lanzana -- who had been living in South Carolina -- in 2013 began convincing prospective clients to invest…

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by Cecilia Levine
Fairfield, CT
Breaking News
Ex-Precious Metals Trader Admits To Commodities Fraud Ex-Precious Metals Trader Admits To Commodities Fraud Ex-Precious Metals Trader Admits To Commodities Fraud
Ex-Precious Metals Trader Admits To Commodities Fraud A precious metals trader from New York is facing time behind bars after admitting in district court in Connecticut to commodities fraud and a spoofing conspiracy for his role in a trading scheme to deceive the precious metals futures contracts markets. Brooklyn resident John Edmonds, a former precious metals trader at a federal bank, admitted that from 2009 through 2015, he conspired with other precious metals traders at the bank to manipulate the markets for gold, silver, platinum and palladium futures contracts traded on the New York Mercantile Exchange Edmonds stated that he and the othe…

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by Zak Failla