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Seven‑year forex Ponzi case ends with $3.5m judgment

Forex traders monitor screens
Forex traders monitor screens. Photo: Carl Court/Getty Images

A judge imposed trading bans, restitution, and civil penalties on unregistered commodity pool operator GDLogix and its founder after years of apparent misconduct and legal delays.

The CFTC has announced that an Eastern District of New York federal court entered a final judgment against Daniel Winston LaMarco and his firm, GDLogix, Inc, ending almost eight years of litigation.

In 2017, the CFTC launched a civil enforcement action against LaMarco and GDLogix, accusing them of operating a Ponzi-style