On February 08, 2012 U.S. Commodity Futures Trading Commission (CFTC) announced that the filing of an enforcement action against Christopher B. Cornett of Buda, Texas, charging him with solicitation fraud, issuing false account statements, misappropriating pool participants’ funds, and failing to register in connection with an off-exchange foreign currency (forex) fraud. According to the CFTC complaint, filed on February 2, 2012, in the U.S. District Court for the Western District of Texas, from at least June 2008 through at least October 2011, Cornett solicited prospective pool participants to provide funds for a pooled investment in forex. Cornett acted as the manager and operator of the pool, which was referred to at various times as ITLDU, ICM, International Forex Management, LLC and/or IFM, LLC.

The original article can be found at U.S. Commodity Futures Trading Commission.