On September 6, 2017, the Commodities Futures Trading Commission (CFTC) filed fraud charges and an motion for asset freeze, injunctive relief, and appointment of a monitor against Monex, in connection with the allegedly fraudulent precious metal investment program allegedly orchestrated by Monex, Louis Carabini, and Michael Carabini through the Atlas leveraged trading platform.

The CFTC alleged that Monex raised hundreds of millions of dollars from investors who were assured their funds would be used to purchase precious metals, and their investments were safe and would generate profitable returns. Instead, according to the CFTC’s charges, the vast majority of the Monex investors in the leveraged Atlas platform were suffering systematic and massive losses, and many had their positions force-liquidated at a loss.

In addition to operating its Atlas program as a fraud upon its customers, Monex also operated the program in violation of the commodities industry laws designed to regulate leveraged retail commodity trading, according to the CFTC’s complaint.

The investor right lawyers in the Peiffer Wolf Carr & Kane law firm’s investment fraud practice have been investigating and evaluating the Monex matter and are preparing to take action and seek compensation on behalf of Monex investors. Their goal is to try and supplement whatever recovery may be available for the investors through the CFTC’s case by pursuing claims against third-party entities not charged by the CFTC, namely entities that, according to their investigation, assisted and enabled Monex’ alleged fraud.

Jason kane, James Booker, and the other attorneys at the Peiffer Wolf Carr & Kane law firm represent individual and institutional investors who have suffered financial losses as a result of unlawful conduct by financial industry actors. They take most of their cases on a contingency fee basis, advance the case expenses, and typically only get paid for their fees and case expenses they advanced if and when they recover money for their clients.

Investors in the allegedly fraudulent precious metal investment scheme perpetrated by Monex through its leveraged Atlas platform may contact attorneys James Booker or Jason Kane at 585-310-5140, by email, at jkane@prwlegal.com, or by filling out the contact form on this page, for a free, no-obligation evaluation of their investment recovery options.

Important Case Updates

The Commodities Futures Trading Commission has recently sued Monex and certain affiliates and principals for commodities fraud. The Commission alleged that Monex defrauded thousands of retail customers throughout the United States out of hundreds of millions of dollars while executing tens of thousands of illegal, off-exchange retail transactions in precious metals such as gold, silver,… Read more »

Monex Allegedly Executed Illegal, Off-exchange Leveraged Commodity Transactions and thus Allegedly Defrauded Thousands of Retail Customers Monex Deposit Company, Monex Credit Company, and Newport Services Corporation (collectively, Monex), and Monex’s principals Louis Carabini and Michael Carabini allegedly executed illegal, off-exchange leveraged commodity transactions and thus allegedly defrauded thousands of retail customers, according to Reports from… Read more »