Home San Diego Press Releases 2009 Arrests Made in Foreign Currency Exchange Investment Scam
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Arrests Made in Foreign Currency Exchange Investment Scam

FBI San Diego March 27, 2009
  • Darrell Foxworth (858) 320-8302

The FBI is announcing the arrest of three subjects in a sophisticated investment fraud scam. Arrested yesterday, Thursday, March 26, 2009, were Francisco Jose Martinez Jr., age 44 of San Diego, and Daniel Paul Romero, age 34, of Potrero, California. Arrested today was Marcellus Lopes Lee, age 40, of Boston, Massachusetts. 

Francisco Jose Martinez was arrested on Thursday, March 26, 2009, at approximately 2:15 p.m. after he self surrendered at the offices of the San Diego County District Attorney’s Office. Daniel Paul Romero was arrested this same day at approximately 8:00 a.m. at his residence in Petrera, California. Marcellus Lopes Lee was arrested today at approximately 10:30 a.m. at Lindbergh Field after arriving in San Diego aboard a commercial airline flight.

The subjects of this investigation are alleged to have defrauded 21 victims of approximately $2.4 million beginning on or about April 1, 2004 through September 28, 2006.

This fraudulent scheme centered on an elaborate bogus investment scheme trading in the foreign currency exchange market. As part of the scheme, the subjects operated under several business names to include Kingdom Advisors, Inc, and New England Capital Trading Group. Victims were duped into entrusting the subjects with large sums of money with the represented intent to buy and sell British pounds, Euros, Yens, etc. Victims were promised returns of 10 percent to 15 percent per month on their investment and guaranteed not to lose more than 20 percent of their investment. Victims were also guaranteed not to lose more than 20 percent in value by way of a so-called “stop loss” assurance.  With this “stop loss” assurance and other promises the subjects obtained investments ranging from $27,5000 to $343,000.

Additionally, as part of the scheme, Daniel Paul Romero, Marcellus Lopes Lee, and Francisco Jose Martinez Jr. represented themselves as the top-tier principals in the group who managed the accounts.