Rather than using client funds for forex trading as promised, Casper Mikkelsen misappropriated the funds in a Ponzi-like scheme.
Casper Mikkelsen, the operator of fraudulent Forex scheme GNTFX, will have to pay a fine in the amount of $3,573,860.
The CFTC insists there are many aggravating factors that necessitate the imposition of a heavy fine on Forex fraudster Casper Mikkelsen.
The CFTC is seeking to impose a fine of $3,573,860.61 on Danish Forex fraudster Casper Mikkelsen, operator of GNTFX.
The CFTC confirms that it will move for final judgment by default against GNTFX operator Casper Mikkelsen.
The CFTC alleges that in total investors lost at least $1.19 million through the fraudulent FX scheme operated by Casper Mikkelsen.
Judge slams the CFTC for the lack of efforts to serve properly Casper Mikkelsen, who is accused of Forex fraud.
The CFTC is having hard time meeting requirements by the Court regarding service on a Danish Forex fraudster.
The CFTC hits a wall of formalities as it tries to secure a $5 million penalty on Danish Forex fraudster Casper Mikkelsen.
The CFTC says Forex fraudster Casper Mikkelsen has offered no reason for leniency and has to pay a fine of $3.57 million.