Marietta man to pay $1 million for alleged foreign exchange fraud
A Marietta man was ordered to pay more than $1 million in fines and restitution after allegedly bilking investors out of money they thought was going into a foreign exchange investment pool.
The Commodity Futures Trading Commission said Wednesday that Jonathan A. Parker and his firm, QuantX Capital LLC, both of Marietta, were ordered to pay a $680,000 civil penalty and $341,500 in restitution.
Parker was also permanently banned from trading on the commodities exchanges or registering as a commodities trader as part of the order.
However, Parker was already operating his investment operation without bothering to register his investment pool with the agency, according to the CFTC.
Read more: http://www.ajc.com/news/business/marietta-man-to-pay-1-million-for-alleged-foreign-/nr9Ks/