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Former Midland Park Man Admits Running $900,000 Foreign Currency Ponzi Scheme

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the staff of the Ridgewood blog

Midland Park NJ,  A South Carolina man today admitted defrauding at least 20 individuals by soliciting investments in what he claimed were highly successful, algorithm-based trading pools in foreign currency derivatives (“forex”) and other financial instruments, and then using the bulk of the money for personal expenditures and to pay off other victims, Attorney for the United States Rachael Honig announced.

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