«SEC: Miami couple defrauded Cuban-American elderly (AP)»

that defrauded hundreds of people, mostly elderly Cuban-Americans.
, 71, and his wife Teresita Cantens, 73, promised unusually high returns of between 9 percent and 16 percent on investments in their Royal West Properties Inc.
But when Royal West’s fortunes went sour as mortgage holders defaulted, the Cantens allegedly began using money from new investors to pay off older ones in a classic Ponzi scheme, said Eric Bustillo, regional director of the SEC’s Miami office. They skimmed $20 million to pay themselves high salaries, for other business ventures and to pay children and grandchildren “consulting fees” although they performed no work, according to the complaint.
“The Cantens used their prominent standing in a close-knit Cuban-American community to ruthlessly exploit vulnerable …

March 8 2010 / No comment / Read More »

General Growth shares rise in Big Board return (Reuters)

.N) rose on Friday, their first day back on the
, even as the U.S. mall owner operates under bankruptcy …

March 8 2010 / No comment / Read More »

The euro gained in the Asian session

Mon, Mar 8 2010, 06:16 GMT
Major currencies starting trading this week gaining against the dollar extending its …

March 7 2010 / No comment / Read More »

Forex Learning

Senators wrestle with Fed bank oversight issues

(Reuters) – The Federal Reserve could retain oversight of large bank holding companies under a scaled-back regulatory reform plan being considered by key senators, but important questions remained unanswered, lobbyists said on Sunday.
…

Mar 7, 2010 / Read More »

Spread Forex

Markets little changed after recent rally

(Reuters) – Stocks were flat in early trading on Monday after a rally last week that saw the Nasdaq close at an 18-month high after encouraging jobs data.
AIG.N
) rose 6.6 percent …

Mar 7, 2010 / Read More »

Learn Forex

StanChart year profit tops $5 billion, strong January

StanChart year profit tops $5 billion, strong January
STAN.L
) met expectations with a 13 percent jump in 2009 profit, as strong investment banking growth in its core Asian markets offset a jump …

Mar 2, 2010 / Read More »

Basics Currency Trading

The March 8th 2010 NY Opening Forex Commentary is available for viewing

Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider …

Mar 8, 2010 / Read More »
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