Joseph Anile, who was convicted of running a 75 million USD investment scam back is September will hear his sentence in a US District Court in Tampa Florida on January 8, 2020. The sentence could be more than 30 years in federal prison and up to 600 000 USD in fines. Joseph Anile, who scammed more than 700 investors through Oasis International Group Ltd. pleaded guilty to three felony counts linked to what federal prosecutors describe as “setting up and running a retail foreign currency exchange trading firm”, that operated from 2011 to 2019. The charges were raised by the Commodity Futures Trading Commission (CFTC) back in April, against Joseph Anile, along with Michael DaCorta, CEO of Oasis International and Francisco Duran. The forex brands, used by the scammers include Oasis Global FX Limited and Oasis Global FX.
"The sentence could be more than 30 years in federal prison and up to 600 000 USD in fines." The supervising authorities should go to jail for 30 years for failure to detect the scam.
The people watching him were likely building an air tight case so the guy's top paid lawyers run away with their tail between their legs in the deposition. Unfortunately, those things take time. Otherwise, if you strike too soon you get years of court battles where the guy has a greater than 0% chance of walking away. Considering the amount of money he swindled, he was in good position to basically stonewall the court and tie up prosecutors.
To say the least, your interpretation is generous. He operated from 2011 to 2019. Of course, I don't know if he swindled from day one.
Would be interesting to know how many complaints were filed with the CFTC before they took action. Eight years is a long time to be running a scam business and get away with it. I'm sure it's not a recent phenomenon with these guys.
I will never understand how scams like this go for so long without anyone complaining and the authorities never cottoning on.
How many financially-savvy cops do you think there are? I don't want to sound too disparaging, but frankly, just finding somebody to even understand this kind of complaint would be a challenge. Then there's the risk, for the cops, of going after an Upstanding Member of the Community - screw that one up, and your career is down the tubes... much easier to bust one of those eeeevil maryjuwana dealers and avoid the headache.