Miami, FL – On October 17, 2007, U.S. District Court Judge Cecilia M. Altonaga entered judgments against several defendants in a Commodity Futures Trading Commission (CFTC) anti-fraud action. Jeffrey Paul Jedlicki was ordered to pay $405,682.04 in restitution and a matching $405,682.04 civil monetary penalty. Additionally, Roxana Sofia Lao Mendez and Beatriz Peralta Quesada each face a $120,000 civil monetary penalty.
The judgments stem from a CFTC complaint filed in 2005 (CFTC v. Berkshire International, et. al., Case No.: 05-CIV-61588) alleging that Jedlicki and related corporate entities defrauded approximately 400 customers out of over $6 million. The scheme involved soliciting funds from customers to trade foreign currency options contracts. According to the CFTC, the majority of these funds were then transferred to offshore accounts, with only $95,000 ultimately returned to investors.
Judge Altonaga found that Jedlicki committed fraud through misappropriation of customer funds and fraudulent sales solicitations. His company, Jeffrey Jedlicki, Inc., was also ordered to pay $347,586.76 in disgorgement, representing ill-gotten gains. Lao and Peralta were found to have aided and abetted the fraudulent activities.
This judgment resolves all remaining claims in the case. Previously, on November 30, 2006, Judge Altonaga issued an order requiring other corporate defendants – Harrington Advisory Services, SL, Richmond Royce Advisory Services, SLU, and Stafford Advisory Services, along with relief defendants FED and Associates, LLC, Briscoe and Associates, Inc, and International Investments Holdings Corp. – to pay over $19 million in restitution, disgorgement, and penalties.
The CFTC’s case was led by Timothy J. Mulreany, David Reed, Michael Amakor, Paul Hayeck, and Joan Manley of the Division of Enforcement. Post-judgment interest will be applied to all restitution and civil monetary penalties.
Source: CFTC.gov
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