CFTC exposes forex options scam

- By FX Markets Staff
- @FXMarkets_
- 22 Sep 2008

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The CFTC alleged IIHC, a supposedly Bahamian corporation that actually operated out of south Florida, and Valko, its president, defrauded around 205 retail customers of at least $1.13 million while purportedly trading FX options.

DeSantis was charged with knowingly aiding and abetting the company by providing consulting and marketing services to Valko and IIHC. The CFTC also alleged that, to hide misappropriations, IIHC and DeSantis generated false customer account statements, confirming supposed

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