May 3, 2019

The CFTC has filed a civil enforcement action against two men and their company, Berkley Capital Management, LLC (BCM), which operates two binary options trading pools, BBOT 1, LP and Berkley II, LP.  In order to open pool accounts with the North American Derivatives Exchange (NADEX), defendants Arie Bos of the Netherlands and William Caniff of the U.S. submitted false statements to conceal Caniff’s criminal background, then misappropriated at least $2.3 million from more than $4.8 million that was fraudulently solicited from the pools’ 62 participants.  CFTC

Tagged in: Financial and Investment Fraud, Ponzi Schemes,