Cases / Trading, forex & commodities
Michael J. Riolo
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- LaSalle International Clearing Corporation, Sterling Wentworth Currency Group Inc
- Industry
- Off-exchange forex trading
- How investors were recruited
- Solicited members of the general public to open forex accounts at Sterling Wentworth
- Pitch & red flags
- Monthly account statements overstated cash available to customers, by as much as $24.5 million; did not disclose that his firms were the counterparty to customers' trades
Source
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