Flower Mound, Texas – Linda Harris and her son, Chance Harris, have been ordered to pay over $5.4 million in restitution and penalties for defrauding customers through a foreign currency (forex) trading scheme. The U.S. Commodity Futures Trading Commission (CFTC) secured a federal court order on June 12, 2012, against Harris, her son, and their companies, CDH Forex Investments, LLC and CDH Global Holdings, LLC.
The order, entered by Senior Judge Royal Furgeson of the U.S. District Court for the Northern District of Texas, requires Linda Harris, Chance Harris, CDH Forex, and CDH Global to jointly and severally pay $1,361,897 in restitution to victims who lost money in the scheme. In addition to restitution, the defendants must pay a $4,085,691 civil monetary penalty.
The CFTC initially filed a complaint on October 25, 2011, alleging fraudulent solicitation, misappropriation of funds, and misrepresentations to investors. The complaint detailed a multi-million dollar forex scheme where Harris and her son allegedly misled participants about the profitability of their investments.
According to the CFTC, the defendants concealed the true performance of the pool by issuing false account statements. They were also charged with submitting falsified bank and account trading statements to the National Futures Association (NFA) in an attempt to cover up their fraudulent activities.
The court found Linda Harris, Chance Harris, CDH Forex, and CDH Global liable for all violations outlined in the CFTC’s complaint. The order permanently prohibits them from engaging in any commodity- and forex-related activities and bars them from registering with the CFTC in the future.
The CFTC acknowledged the assistance of the NFA in the investigation. The case was led by CFTC staff members Nathan B. Ploener, Christopher Giglio, Trevor Kokal, Manal Sultan, Lenel Hickson, Stephen J. Obie, and Vincent McGonagle.
Source: CFTC.gov
Related Federal Cases
- Jason Jarin, Medicaid Fraud and Illicit Transition Procedures, Texas 2023 · Texas
- Shannon Tecoko Mays, Conspiracy to Commit Wire Fraud, Texas, 2012 · Texas
- James Pavlounis, Social Security Administration Fraud and Tax Evasion, California 2023 · Texas
- Juan A. Tony Marrero, Medicare Fraud Scheme, Miami FL, 2023 · Texas
- Tren de Aragua Leaders Unsealed, Terror Cartel Crimes, Texas, 2023 · Nebraska
