Miami, FL – On October 7, 2014, the U.S. Commodity Futures Trading Commission (CFTC) announced an emergency order freezing the assets of Jean Chauvel, along with Renaud Pierre-Charles and Robert Tripode, and their company, Forex Monthly Income Fund, LLC (FMIF). The order, issued by Judge William Dimitrouleas of the U.S. District Court for the Southern District of Florida, also prevents the defendants from destroying records and grants the CFTC access to those documents.
The CFTC’s complaint alleges that Chauvel, Pierre-Charles, and Tripode fraudulently solicited over $1.4 million from the public starting in January 2011, promising guaranteed monthly returns on investments in a foreign currency (forex) commodity pool. According to the complaint, these promises were based on falsely claiming profits were earned through forex trading.
Investigators found no evidence that the defendants actually traded forex or generated any income from trading. Instead, they are accused of misappropriating more than $1 million of the investors’ funds. Victims included vulnerable individuals, including senior citizens seeking to supplement their retirement income.
The CFTC is seeking full restitution for defrauded investors, along with disgorgement of any ill-gotten gains, civil monetary penalties, permanent registration and trading bans, and a permanent injunction against future violations of federal commodities laws. A hearing on the CFTC’s motion for a preliminary injunction is scheduled for October 10, 2014.
Those with information about potential commodity trading violations are encouraged to contact the CFTC via its toll-free hotline at 866-FON-CFTC or submit a tip online.
Source: CFTC.gov
Related Federal Cases
- Orlando Pascual Jr., HIV Treatment Medicare Fraud, Miami FL, 2023 · Mississippi
- Juan A. Tony Marrero, Medicare Fraud Scheme, Miami FL, 2023 · Texas
- Juan A. Tony Marrero, Medicare Fraud Scheme, Miami FL, 2024 · Florida
- Alton Plunkett, Tax Fraud, New York NY, 2023 · New York
- Letitia James, Tax Fraud and Bribery, New York 2023 · New York
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News