Dallas, TX – Linda Faye Harris and her son, Chance Domel Harris, are facing charges of fraud, false statements, and misappropriation of funds following a complaint filed by the U.S. Commodity Futures Trading Commission (CFTC) on October 25, 2011, in the U.S. District Court for the Northern District of Texas, Dallas Division.
The CFTC alleges that from August 2008 through July 2010, Linda Harris, along with her son and their companies CDH Forex Investments, LLC and CDH Global Holdings, LLC, fraudulently solicited over $2.2 million from investors for off-exchange foreign currency (forex) trading. The defendants, all residents of Flower Mound, Texas, are accused of misrepresenting the risks and profitability of their trading programs.
According to the complaint, the Harris duo sustained substantial trading losses but instead of disclosing this to investors, they allegedly misappropriated approximately $350,000 to fund personal expenses, including rent on their family home, payments for a leased BMW, and credit card bills. Investors were provided with false account statements designed to conceal the ongoing fraud and maintain the illusion of profitability.
Linda Harris also faces additional charges for providing falsified documents – including trading and bank statements – to the National Futures Association (NFA) in an attempt to hide the fraudulent activity. The CFTC is seeking the return of illegally obtained gains, restitution for defrauded customers, civil monetary penalties, trading and registration bans, and permanent injunctions to prevent further violations of the Commodity Exchange Act.
The CFTC acknowledged the assistance provided by the NFA in the investigation. The case is being prosecuted by CFTC staff members Nathan B. Ploener, Christopher Giglio, Manal Sultan, Lenel Hickson, Stephen J. Obie, and Vincent A. 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
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News