The SEC alleges that they offered investors risk-free returns of up to 20 times the original investment within as few as 45 days through the purported “lease” and “trading” of foreign bank instruments in highly complex transactions involving unidentified parties and secretive “trading platforms.” Yet all the bank instruments and trading programs were entirely fictitious. Investors in schemes like this are often told that details are too difficult for non-experts to understand, and that secrecy is required for success. In this case, they used vague and complex terms to confuse investors, and claimed that confidentiality concerns prevented them from providing more details regarding the status of the investment. The D.C. attorney and her law firm acted as counsel for the Pennsylvania resident.
SEC Halts Prime Bank Scheme by Washington DC Law Firm and Pennsylvania Company
