Trevor G. Cook, Patrick (Pat) Kiley, et al.
On November 23, 2009, the SEC obtained a temporary restraining order and asset freeze in connection with an alleged on-going Ponzi scheme. According to the Complaint, from about July 2006 through July 2009, Trevor G. Cook and Patrick J. Kiley raised at least $190 million from more than 1,000 investors nationwide through the fraudulent offer and sale of investments in a foreign currency trading venture. The SEC alleges that Cook and Kiley utilized several entities to sell investments -- UBS Diversified Growth; Universal Brokerage FX Management, LLC, often referred to as Universal Brokerage FX, and Oxford Global Advisors, LLC and Oxford Global Partners, LC.
The SEC alleges that Cook and Kiley consistently represented that they would use investor funds to engage in foreign currency trading that would generate annual returns of 10% or more for the investors with little or no risk. To the contrary, the SEC alleges that Cook and Kiley skimmed millions of dollars of investor funds by, among other things, sending purported returns and profits to investors, paying for personal expenses, investing in offshore trading firms, and financing the construction of a casino in Panama.
For more information about the SECís action, you can read Litigation Release No. 21344 (Dec. 18, 2009).
The Court also appointed R.J. Zayed, Esq., as Receiver. For the latest information about the Receivership, you can visit the Receiverís website.