July 31, 1998 |
Two Orange County firms and three area employees have been snared in a three-state crackdown aimed at shutting down an alleged fraudulent investing scheme. Nine individuals, including two from Orange County and one from Los Angeles, were arrested Thursday after their firm, Cleveland-based Options Trading Inc., was indicted by an Idaho grand jury for allegedly defrauding investors. Authorities searched the Newport Beach offices of an Options affiliate, Currency Trading International Inc.
December 15, 1998 |
Securities regulators in Texas said Monday that they have recovered about $18 million for investors who allegedly were bilked in a nationwide scheme with ties to Orange County. Most of the money from the alleged scheme involving foreign-currency options was found in Bermuda. It will be returned to more than 430 investors in Options Trading Inc. in the next few weeks, said David Grauer, head of enforcement for the Texas State Securities Board, which led the investigation.