CFTC secures entry of default against FX/binary options fraudster Kenzley Ramos
The United States Commodity Futures Trading Commission (CFTC) has marked progress in its action against FX and binary options fraudster Kenzley Ramos. This has been revealed by the latest Court filings in this case, seen by FX News Group.
Let’s recall that Kenzley Ramos, who is also known as Kenzley Jacobs, a/k/a Anthony David “Tony” McKinney, a/k/a Anthony Green, falsely promised individuals the ability to profit from the COVID-19 pandemic by trading in off-exchange Forex and binary options with guaranteed 300% weekly returns.
The complaint alleges that from at least December 2015 until the present, Ramos fraudulently solicited individuals across the country by using online advertisements and aliases to further his ongoing scheme, incorporating COVID-19 into his solicitations earlier this year.
He falsely represented himself as a highly successful and experienced binary options and forex trader who could profit from the coronavirus even while stock prices were falling. Ramos offered to pool funds sent to him by participants to trade binary options and forex, but instead simply misappropriated the money. As alleged, Ramos has no U.S.-based binary options or forex trading accounts.
The complaint further alleges that, despite receiving a cease and desist letter from the Texas State Securities Board related to these fraudulent solicitations, Ramos continued to solicit participants and engage in his fraudulent scheme.
The CFTC has sought a clerk’s entry of default against Ramos based on the fact that he has failed to respond to the complaint in a timely manner. The Texas Northern District Court has agreed with the regulator and granted the motion for the entry of default.
Typically, the next steps to be taken include the filing of a motion for default judgment against the defendant. The proposed default judgment usually includes information about the specific penalties to be imposed (restitution, injunctions, civil monetary penalties, etc.)