CFTC Orders South Florida Resident Alan A. Grant and his Company, Francis Grant Investments Inc., to Pay $500,000 in Forex Fraud Charges
The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges that Alan A. Grant and his company, Francis Grant Investments Inc. (FGI), of Davie, Fla., committed fraud by failing to disclose to customers that the off-shore foreign currency (forex) pool in which they participated had ceased trading and assets were frozen due to a foreign regulatory action. Grant and FGI issued false account statements showing profitable trading by the off-shore pool and continued to solicit funds even though the pool was no longer trading.