Some brief details
here, probably more on the CFTC website.
Securities and Investments
Fx Unigma, Inc.,
Fx World, Inc.
Marin Illev Yanev
Action Date: October 19, 2005
Location: Cleveland, OH
On October 19, 2005, the U.S. Commodity Futures Trading Commission (CFTC) announced that the United States District Court for the Southern District of Ohio entered a restraining order against defendant Marin Illiev Yanev, of Sofia, Bulgaria, individually and d/b/a
Fx Unigma, Inc. and
FX World, Inc., freezing Yanev’s assets and preventing the destruction or alteration of his books and records until a further hearing set for December 12, 2005. The court’s order stemmed from a CFTC enforcement action alleging that, since at least October 2003, Yanev operated two websites, fx.unigma.com and fx-world.com, through which Yanev solicited funds from retail customers to trade foreign currency (forex) futures contracts through accounts supposedly managed by FX Unigma and FX World. The complaint further alleges that Yanev, through his websites, made material misrepresentations of fact, including the actual existence of the managed accounts, the performance record of the purported FX Unigma, the location of FX Unigma’s offices, and the longevity of FX Unigma’s supposed managed account operations.