Wednesday, March 4, 2015

CFTC Charges Michigan's Jerry Stauffer With Forex Fraud

The U.S. Commodity Futures Trading Commission (CFTC) announced an emergency order freezing the assets of Jerry Stauffer in Traverse City, Michigan. Stauffer is being charged with fraudulently soliciting almost $1 million from members of the public to trade in the forex (FX) market through a commodity pool. The pool guaranteed participants a monthly ROI based on profits. The charges allege that Stauffer prepared and distributed false account statements showing high profits while pocketing the funds raised for his own use.

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