Federal Court Freezes the Assets of Florida Resident Beau Diamond and Diamond Ventures LLC, Charged by the CFTC with Operating a $37 Million Dollar Forex Fraud
Defendants charged with defrauding at least 200 investors in Ponzi scheme
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained an emergency federal court order freezing the assets of defendants Beau Diamond and his company, Diamond Ventures LLC, both of Sarasota, Fla. The court’s order also prohibits the destruction of documents and grants the CFTC immediate access to defendants’ documents.
The order, entered on September 3, 2009, in the U.S. District Court for the Middle District of Florida, arises from a CFTC enforcement action filed that day charging Diamond and Diamond Ventures with operating a $37 million foreign currency (forex) Ponzi scheme that defrauded at least 200 investors.
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