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US Regulator CFTC charges Danish perpetrator with running the $1.5 million GNTFX Forex fraud scheme

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The US Commodity Futures Trading Commission (CFTC) filed an enforcement action in the U.S. District Court for the Southern District of New York, charging the Danish citizen and resident Casper Mikkelsen, a/k/a “Carsten Nielsen,” a/k/a “Brian Thomson,” a/k/a “Thomas Jensen,” a/k/a Casper Muller,” a resident of Denmark, with engaging in the $1.5 million GNTFX (www.gntfx.com) forex fraud scheme.

Allegedly, Mikkelsen promised clients he would use his discretion to trade forex on their behalf. Consequently, clients, in turn, invested at least $1.5 million. Rather than using those funds for forex trading as promised, Mikkelsen instead misappropriated at least $737,000 of clients’ funds, the CFTC claims. In total, clients lost a total of at least $1.19 million and the remainder of client funds was used for purposes other than trading forex including, in part, being returned to other clients as is typical in a Ponzi scheme. The complaint also alleges that Mikkelsen was required to register as a commodity trading advisor but failed to do so.

Your deposit with GNTFX is always safe as all money is deposited into segregated accounts. All company funds are segregated from client funds here at GNTFX. When client funds are received, they are placed into the company’s fiduciary client bank accounts, which are segregated.

Misrepresentations on the GNTFX website

These statements on the Website evidently were false. Mikkelsen did not disclose that clients’ deposits were not safe since their deposits had been misappropriated. There were no segregated fiduciary client bank accounts into which clients’ money had been deposited. And Mikkelsen did not disclose that there was no professional trader whose trades were cloned onto client accounts.

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