The sentence could be more than 30 years in federal prison and up to 600 000 USD in fines.
Joseph Anile, who scammed more than 700 investors through Oasis International Group Ltd. pleaded guilty to three felony counts linked to what federal prosecutors describe as “setting up and running a retail foreign currency exchange trading firm”, that operated from 2011 to 2019.
The charges were raised by the Commodity Futures Trading Commission (CFTC) back in April, against Joseph Anile, along with Michael DaCorta, CEO of Oasis International and Francisco Duran.
The forex brands, used by the scammers include Oasis Global FX Limited and Oasis Global FX.
Sounds like justice finally took it role, but where exactly that firm was established that they went him right into something like for example that case ? I do understand that he may hide this offshore but I assume it should be something like he is in US based ?
I’m never quite sure why Ponzi schemes actually bother trading. They’ve got the money, they don’t need to (and cannot) make a profit from trading that would cover their deluded clients’ expectations. I suppose they need various forms of profile in the market so that a little checking would not find them to be simply a rented office with a postbox and no traders. The clue is always in the ridiculous advertised returns.