The SEC has brought forex fraud charges against Craig Karlis and Ahmet Devrim Akyil as well as BTRFX. Click here to read what the SEC has to say about this company. The FPA warns all traders to not devrim forex trading system business with this or any other company associated with Craig Karlis unless these issues can be resolved.
One less scam company in business. Let other traders know if this service is worth checking or should be avoided. The Commission’s complaint alleges that BTR offered investors investments in a program that traded in the Forex market. BTR solicited investments through a website, sales representatives called “introducing brokers,” and live presentations by Karlis and Akyil. BTR attracted investors from around the world, with many residing in Florida.
The SEC alleges that in fact Karlis and Akyil diverted some investor funds for their own benefit. To conceal the fraud, BTR sent investors misleading account statements, while Akyil and Karlis were actually depleting the investment pool through misappropriation and trading losses. According to the Complaint, BTR collapsed in September 2008 due to significant losses accrued as a result of concealed trading far past the stop loss limits promised to investors. Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission seeks the entry of a permanent injunction, disgorgement of ill-gotten gains plus pre-judgment interest, and the imposition of civil monetary penalties against BTR, Akyil, and Karlis. Attorney’s Office for the District of Massachusetts today unsealed an indictment charging Akyil and Karlis with criminal violations based on the same misconduct. The SEC acknowledges the assistance of the Commodity Futures Trading Commission in its investigation.
I’m still trying to get back what is left of a 10k investment for months! If I lived in Boston, or had the money to track them down, things would be VERY different! I have been watching them for quite a while. If any of you have switched to a new broker, which does not exist basicly, and all the money was lost there, it is a scam.
How come someone supposedly after not having a negative month for more than a year, suddenly loses all? Just another lesson for world’s forex community. I along with everyone else that had a manged account with BTR got scammed. The excuse is pathetic and very poor management. I hope their is a class action against them.
Bucket shop with a taste for scamming their traders. I woke up I couldn’t even access the site? Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. We are committed to the fair handling of reviews and posts regardless of such relations.
All rights reserved under US and international law. 2 trillion every day and transforming a lot of common women and men across the world into wealthy men and women. When buying and selling with Forex, you will shed some trades every so often. There exists just not a way about this. The most detrimental action you can take would be to become disappointed about a losing streak. Stick with solid techniques, progress for the market’s sway, and remain over a reasonable road to trading. Intelligent traders trip out the terrible weather and turn out richer.