US Court Fines Total Call Group and Its Principals With $4.8M For Forex Fraud

US Court Fines Total Call Group and Its Principals With $4.8M For Forex Fraud

  • Posted Tuesday, April 10, 2012 -
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Federal Court in Texas Orders Total Call Group, Inc. and its Principals to Pay over $4.8 Million in Fines for Making False Representations and Issuing False Account Statements in Forex FraudWashington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today announced that a federal court entered an order of default judgment and permanent injunction against Total Call Group, Inc. (aka TPFX, Inc., Power Play FX) of Frisco, Texas, and its principals, Craig B. Poe, also of Frisco, and Thomas Patrick Thurmond (aka Patrick Thurmond) of San Antonio, Texas.The courts order requires Poe and Thurmond, respectively, to pay a civil monetary penalty of $3.24 million and $1.62 million and holds Total Call Group jointly and severally liable for the payment of these amounts.The order, entered on March 30, 2012, by Judge Richard A. Schell of the U.S. District Court for the Eastern District of Texas, stems from a CFTC enforcement action filed on September 29, 2010, that charged the defendants with issuing false customer account statements in connection with an off-exchange foreign currency (forex) fraud (see CFTC Press Release 5908-10).

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