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01 March 2002
News Release
FX Advisors East LLC Charged with Fraud by US Authorities
FX Advisors East LLC and related persons have been charged with fraudulently soliciting over five million dollars from customers in New Zealand, Australia and the United States.
The Securities Commission has received complaints about FX Advisors East LLC from New Zealanders who were the subject of unsolicited telephone calls offering to trade foreign currency futures contracts. The Commission formed the opinion that the firm was conducting its business in breach of New Zealand law. We named FX Advisors East LLC on our web site and corresponded with overseas authorities.
The action against FX Advisors LLC has been taken by the Commodity Futures Trading Commission (CFTC) who are the responsible regulatory authority in the United States for futures contracts.
The CFTC media release about their action is at www.cftc.gov/opa/enf02/opa4611-02.htm.
We again warn people against sending money out of the country to brokers known only to them by telephone calls, particularly if the calls are unsolicited.
Norman F. Miller
Senior Executive (Operations)
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