July 14, 2010
CFTC Charges Three Florida Defendants with Issuing False Account Statements in Foreign Currency Anti-Fraud Action
Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) charged FX Professional International Solutions, Inc. (FXP) (a.k.a. FX Professional Solutions, LLC), of Orlando, Fla. and its principals, Pedro de Sousa (a.k.a. Pedroiz J. Sanz), also of Orlando, and Guillermo Rosario (a.k.a. Guillermo Rosario-Colon) of Coral Gables, Fla., with issuing false account statements to customers in connection with an off-exchange foreign currency (forex) fraud.
The CFTC complaint, filed in the U.S. District Court for the Southern District of Florida on July 13, 2010, alleges that in April 2005, Rosario and de Sousa solicited at least $535,000 from four individuals to trade forex contracts through FXP. The complaint charges that Rosario and de Sousa falsely represented to customers that since 2002 FXP had annual forex trading profits of 21 percent to 85 percent with no losing years; however, FXP did not exist prior to 2004. Furthermore, according to the complaint, defendants sent customers false monthly account statements showing profits every month from 2005 through 2008 when, in fact, the defendants’ forex trading resulted in monthly losses in 31 of 40 months during this period.
In its continuing litigation, the CFTC seeks restitution, disgorgement of ill-gotten gains and civil monetary penalties.
FBI arrests de Sousa and Rosario on criminal charges
At the same time, the Federal Bureau of Investigations (FBI) arrested de Sousa and Rosario based on criminal charges filed by the U.S. Attorneys’ Office for the Southern District of Florida.
The CFTC appreciates the assistance of both the FBI and the U.S. Attorneys’ Office.
The following CFTC Division of Enforcement staff members are responsible for this action: Matthew Elkan, Eugenia Vroustouris, Daniel Jordan, William McNish, Michael Loconte, Rick Glaser and Richard B. Wagner.
Last Updated: July 14, 2010