COMMODITY FUTURES TRADING COMMISSION EXPOSES FRAUD & IMPOSES MONETARY SANCTIONS ON NUMEROUS SOUTH FLORIDA FIRMS

As recently as July 26, 2006, the CFTC, imposed monetary sanctions and entered permanent injunctions against a number of principals and salesmen of another South Florida-based commodity options trading firm. Several of these individuals were also sanctioned and had fines imposed on them on June 5, 2006. The two firms named were United Investors Group (UIG) of Boca Raton & First American Investment Services, Inc. of Deerfield Beach.

Click on the following links to read the CFTC Releases: http://cftc.gov/opa/enf06/opa5207-06.htm (July 26, 2006) and http://cftc.gov/opa/enf06/opa5185-06.htm (June 5, 2006) & http://cftc.gov/opa/enf04/opa4943-04.htm (June 21, 2004) for details

Visit the following links to read more about the other firms involved:

• International Investments Holding Corp. (IIHC) http://cftc.gov/opa/enf06/opa5204-06.htm (July 24, 2006)
• Wilshire Investment Management Corporation (WIMC) & National Commodities Corporation, Inc. (NCC) http://cftc.gov/opa/enf06/opa5200-04.htm (July 19, 2006)
• International Forex Advisory Group (IFA Group) & Worldwide Currencies Corp. (WWC) of Miami http://cftc.gov/opa/enf06/opa5201-06.htm (July 19,2006)
• First International Group, Inc. (FIG) of Miami http://cftc.gov/opa/enf06/opa5177-06.htm (April 27, 2006)

Each of these firms have been ordered to pay restitution to defrauded customers and also to pay substantial monetary penalties.

If you are a victim of any of these firms, follow the link to Contact Us to Ask Mark Tepper About Securities Fraud or telephone us at (954) 961-0096 for your free telephone consultation to determine if we can assit you in recovering some of your investment losses.

FYI: NASAA SURVEY SHOWS SENIOR INVESTMENT FRAUD ACCOUNTS FOR NEARLY HALF OF ALL COMPLAINTS RECEIVED BY STATE SECURITIES REGULATORS - Unregistered Securities, Variable and Equity Indexed Annuities Most Pervasive Financial Products Involved in Senior Investment Fraud

WASHINGTON (July 17, 2006)—With the first ‘Baby Boomers’ turning 60 this year, state securities regulators warned today that investment fraud among seniors, which already accounts for nearly half of all investor complaints received by state securities regulators, could grow significantly in coming years....

To read the entire article and NASAA President's SENIORS SUMMIT STATEMENT, click http://www.nasaa.org/NASAA_Newsroom/Current_NASAA_Headlines/4998.cfm

The U.S. Commodity Futures Trading Commission (CFTC) has published numerous informational brochures and offers a variety of free information to assist investors on their website http://cftc.gov.

The following information offers background information on Futures Trading and direct links to pages you can print.
Basics of Futures Trading

Trading commodity futures and options is not for everyone. It is a volatile, complex, and risky business. Before you invest any money in futures or options contracts, you should:

• Consider your financial experience, goals, and financial resources and know how much you can afford to lose above and beyond your initial payment.
• Understand commodity futures and option contracts and your obligations in entering into those contracts.
• Understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.
• Know who to contact if you have a problem or question.

The CFTC brochures will provide you with general information about trading commodity futures and options. We encourage you to ask more questions and gather more information before you open an account.

The CFTC also issues consumer advisories to alert the public to warning signs of possible fraudulent activity and offer precautions individuals should take before committing funds. We encourage you to review these advisories before you trade.

Additionally, you may wish to visit the National Futures Association (NFA) Investor Services web site for more information and related publications.

Broker Registration and Background Information

Before you open an account, you should always check on the company's or individual's status:

Background Affiliation Status Information Center (BASIC)

Through this online system, National Futures Association (NFA) makes available registration information and futures-related actions contributed by NFA, the CFTC and the U.S. futures exchanges. If you need registration information that's not available in BASIC, you can contact NFA's Information Center at (800) 621-3570.

Administrative Sanctions in Effect List

This list contains the names of firms and individuals that currently have registrations and trading sanctions in effect as a result of administrative and statutory disqualification proceedings.

Reparations Sanctions in Effect Lists

These lists contain the names of individuals or firms who have not paid awards which were levied against them as a result of reparations proceedings.

Proceedings Bulletin

This bulletin contains information about the Commission's administrative and injunctive enforcement actions and its statutory disqualification-from-registration proceedings.

Additional Information for Investors

From the NASD Investor Alert Investor Information section of their website at http://www.nasd.com/ Visit them for informative information on a variety of topics.

 

We offer a no-cost initial consultation via telephone on (954) 961-0096 or email askmark@marktepper.com