Francesc Riverola,
The Securities and Exchange Commission has got an emergency court order to freeze assets in a foreign currency trading scheme that raised at least $190 million, Mondovisione reports. Federal regulators have charged a Minneapolis money manager and a Burnsville radio personality with running a Ponzi scheme that duped about 1,000 investors in a bogus currency investment scheme.
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U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21313 / November 24, 2009
SEC V. TREVOR G. COOK, PATRICK J. KILEY, ET AL, Case No. 09 CV 3333 (D. Minn., filed November 23, 2009)
On November 23, 2009, the Honorable Michael J. Davis of the U.S. District Court for the District of Minnesota issued an Asset Freeze Order against all assets of Trevor G. Cook (Cook), Patrick J. Kiley (Kiley), both Minnesota residents, and UBS Diversified Growth LLC, Universal Brokerage FX Management LLC, Oxford Global Advisors LLC, and Oxford Global Partners LLC (the Defendant Companies), four shell companies owned or controlled by them. The court also issued an asset freeze order against several Relief Defendant Companies: Basel Group LLC, Crown Forex LLC, Market Shot LLC, PFG Coin and Bullion, Oxford FX Growth L.P., Oxford Global FX LLC, Oxford Global Managed Futures Fund L.P, UBS Diversified FX Advisors LLC, UBS Diversified FX Growth L.P., and UBS Diversified FX Management LLC. The court also entered a freeze order against certain assets of relief defendants Clifford and Ellen Berg, who received investor funds from Cook. In addition, Judge Davis issued an order appointing a receiver over all of these assets. The court issued the freeze and receivership orders under seal while the assets were being secured, and the seal has now been lifted.
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