Two Men Charged and Arrested in Connection with Forex Ponzi Scheme

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, announced the arrest of Pedro De Sousa and Guillermo Rosario for mail and wire fraud violations arising from a Ponzi scheme based on false claims that through trading in the Forex, or foreign currency markets, the defendants could secure consistent and improbably high returns for investors. Coinciding with these arrests, the Commodities Futures Trading Commission announced that it has filed a separate civil action against the defendants in the Southern District of Florida.

In the criminal case, a federal grand jury has indicted the defendants for one count of conspiracy to commit mail and wire fraud, in violation of 18 U.S.C. §1349, three counts of mail fraud, in violation of 18 U.S.C. §1341, and 57 counts of wire fraud, in violation o f 18 U.S.C. §1343. Each offense carries a maximum penalty of 20 years’ incarceration. The indictment alleges that the defendants operated businesses called FX Professional Solutions and FX Professional International Solutions, which solicited investors in Miami-Dade, Broward and Palm Beach counties with false claims about their experience trading in foreign currencies, fraudulent claims about their history of securing consistently high returns for investors, and false claims that the defendants were trading investor funds in foreign currency markets, when in fact they were not. Instead, the defendants misappropriated and lost investor funds, and attempted to conceal their conduct by paying older investors with funds from newer investors in a pyramid or Ponzi scheme fashion, and by providing investors with false account statements.

“The lesson to be learned here is that when investing in a business opportunity, the old adage “buyer beware” should be applied vigorously,” warned Special Agent in Charge John V. Gillies of the FBI Miami Division. “Investors should run the other way if they are told their risk is low and their expected return is high. We will continue to work with our partners to address fraudulent get rich quick schemes.”

Mr. Ferrer commended the FBI and the Commodity Futures Trading Commission for its efforts in connection with the civil suit, and further expressed his appreciation for the Coral Gables Police Department’s contributions to the criminal investigation. This case is being prosecuted by Assistant U.S. Attorney Karen Rochlin.

An indictment is only an accusation and a defendant is presumed innocent until and unless proven guilty.

A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the United States District Court for the Southern District of Florida at www.flsd.uscourts.gov or http://pacer.flsd.uscourts.gov.