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A former New York City police officer was indicted for conspiracy to commit wire fraud after he allegedly lied to investors and lost most of the $4.8 million they put into his foreign exchange-focused investment fund, prosecutors said Wednesday. On Thursday, newly unsealed records in Brooklyn federal court revealed that the business partner of Jason Rodriguez, the ex-cop indicted in the case, last month pleaded guilty to wire fraud conspiracy in connection with their forex investment fund, Technical Trading Team. Rodriguez, 37, is accused of falsely promising investors in Technical Trading Team that there would be guardrails to protect the trading risks for their money. That included a vow to never put a maximum of 1% of investors’ funds at risk at any given time, the indictment says. “In reality, Rodriguez ignored those guardrails and lost millions in investor funds and also misappropriated hundreds of thousands of dollars which he used to pay for luxury car rentals, travel and other personal expenses,” said Brooklyn U.S. Attorney Breon Peace. Peace’s office said that as Rodriguez, who was arrested Wednesday, lost an increasing amount of money in trading in foreign exchange, he used money from new investors to pay prior investors their promised investment returns.
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By TraderJeff · Posted
Another good example of why I prefer DAX to other markets and the use of my own profitable method of Reverse Trades (see my previous post) is illustrated on the chart below for 29th May. If this is not clear, feel free to write to me and I will explain in greater detail. -
When will MT5 support be available with IG? Best regards, Jay
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