NY-AG v. Jason Amada

Jason Amada was charged with fraudulently soliciting clients to invest, losing 99% of one client's principal, and defrauding investors out of more than $489,000. According to NY-AG, Amada held himself out as an experienced foreign currency trader and the operator of legitimate investment management firms but failed to disclose that he had not been a licensed broker since 2012, and that his ventures were shell corporations. Amada also allegedly used investor monies for personal expenses and provided fake account statements to investors masking his crimes.

Summary generated from official New York Attorney General press release