US authorities have finally taken action against The Traders Domain Ponzi scammers.

On September 30th the CFTC filed suit against Traders Domain FX LTD and several additional corporate and individual defendants.

While The Traders Domain itself wasn’t an MLM opportunity, the scam is of interest to BehindMLM due to several MLM Ponzis feeding into it. The Traders Domain was also promoted by several well-known MLM figures.

All up there are sixteen named defendants in the CFTC’s The Traders Domain lawsuit;

Traders Domain FX LTD., dba The Traders Domain, St. Vincent and the Grenadines shell company

Fredirick Teddy Joseph Safranko, aka Ted Safranko (right), co-founder of The Traders Domain

David William Negus-Romvari, co-founder of The Traders Domain

Ares Global LTD., dba TruBlueFX, Saint Lucia shell company

Algo Capital LLC, Miami shell company

Algo FX Capital Advisor LLC, nka Quant5 Advisor LLC, Delaware shell company

Robert Collazo Jr., co-owner of Algo FX Capital Advisor LLC

Juan Herman, aka JJ Herman, co-owner of Algo FX Capital Advisor LLC

John Fortini, Vice President of Algo FX Capital Advisor LLC

Steven Likos, Algo FX Capital Advisor LLC sales rep

Michael Shannon Sims, aka Mike Sims, The Traders Domain promoter and insider

Holton Buggs Jr., The Traders Domain promoter

Centurion Capital Group INC, Florida shell company

Alejandro Santiestaban, aka Alex Santi, co-owner Centurion Capital Group INC

Gabriel Beltran co-owner of Centurion Capital Group INC,  and

Archie Rice, Centurion Capital Group INC sales rep

As alleged by the CFTC;

From at least November 2019 through present, Traders Domain FX LTD. d/b/a/ The Traders Domain, by and through its officers, employees, and agents, (“TD”) and its co-owners Frederick Teddy Joseph Safranko a/k/a/ Ted Safranko (“Safranko”) and David Negus-Romvari (“Negus-Romvari”), individually and as controlling persons of TD (collectively, the “TD Defendants”) orchestrated a multi-layered scheme to solicit funds for the purpose of trading leveraged or margined retail commodity transactions … as well as assorted other commodities, through pooled and individual accounts.

What made The Traders Domain a Ponzi scheme is the represented trading, and associated profits, was all a sham.

TD misappropriated customer funds by accepting customer money via third party bank accounts, payment processors, and crypto wallets, but failing to use at least some of those funds to trade XAU/USD and by charging commissions on purported trading profits that did not exist.

And after The Traders Domain, the fraud continued through Ares Global and TruBlueFX.

In addition, TD, and later it’s successor in interest Ares Global d/b/a/ Trubluefx (“Trubluefx”), misappropriated customer funds by failing to return customer funds despite repeated attempts by thousands of customers to access and/or liquidate their accounts.

TD and Safranko also falsified trading records, and the TD Defendants failed to register as required under the A

🤖 Quick Answer

What action did the CFTC take against The Traders Domain?
On September 30th, the CFTC filed a lawsuit against Traders Domain FX LTD and sixteen named defendants, including co-founders Fredirick Teddy Joseph Safranko and David William Negus-Romvari, for operating a Ponzi scheme affecting investors through fraudulent trading operations and false investment promises.

Why is The Traders Domain relevant to MLM investigations?
Although not an MLM itself, The Traders Domain received promotion from multiple MLM-related figures and functioned as a receiving entity for funds from several MLM Ponzi schemes, creating interconnected fraud networks affecting both trading and network marketing sectors.

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