Ron McCullough and David Mayhew Charged with Fraud

Ron E. McCullough and David C. Mayhew (also known as David Mahew) defrauded investors in connection with leveraged or margined off-exchange foreign currency (forex) trading, according to a complaint filed by the United States Commodity Futures Trading Commission (CFTC). McCullough and Mayhew oversaw the fraudulent solicitation of approximately $2.3 million from at least 11 investors… Read more »

Arista LLC, Abdul Sultan Walji Sued by the CFTC

Abdul Sultan Walji and his company, Arista LLC, are at risk of having their registrations revoked by the U.S. Commodity Futures Trading Commission (CFTC). The CFTC is seeking to revoke the registrations of Walji and Arista due to their alleged involvement in misappropriating investor funds, providing false quarterly statements to investors, and making misrepresentations to the CFTC…. Read more »

Texas Partners-in-Crime Defraud Investors in Forex Scheme, Sentenced to Prison

Chris Cornett and Heidi Beyer have been sentenced to 40 years and six years, respectively, in federal prison, by U.S. District Judge Sam Sparks in Austin, Texas.  Cornett and Beyer were accused of stealing over $10.6 million from more than 100 investors nationwide. Yet another forex scheme has hit the dust, its investors left pennyless… Read more »