James B. Roberts, FOMAC International, Inc., and Consultores Las Tres Americas S.A.
On August 31, 2007, the SEC filed a civil enforcement action against James Blackman Roberts, FOMAC International, Inc. and Consultores Las Tres Americas S.A. The defendants consented to preliminary injunctions, asset freezes and other relief.
According to the complaint, since 2002, the defendants raised at least $50 million from approximately 450 investors located primarily in the U.S. and Costa Rica to trade in the Forex markets. As early as 2005, the SEC alleged the defendants experienced significant losses while trading investor funds, and began using new investor money to pay returns and principal to existing investors. The SEC alleged the defendants misrepresented to investors that these Ponzi payments were actually returns from their Forex trading, and had misappropriated at least $3 million of investor funds. For more information about the SEC’s action, you can read Litigation Release No. 20264 (Aug. 31, 2007).
The Court also appointed Dennis L. Roossien, Jr. to preserve, marshal and recover funds and assets for the benefit of defrauded investors. Inquiries about the Receivership can be directed to Mr. Roossien by sending an email to firstname.lastname@example.org.
Please note that the FBI is compiling a list of the investors involved in FOMAC. If you have not been contacted by FBI Victim/Witness Coordinator Sherri Funk, please send her an e-mail at email@example.com that contains your name, mailing address, contact phone numbers and the gross investment you made with FOMAC and any withdrawals. The FBI will periodically send out e-mails notifying investors as to the status of the criminal investigation.