The Commodity Futures Trading Commission announced that the US District Court for the Southern District of Florida entered default final judgments against Roberto Pulido (also known as Berto Delvanicci) and Lions of Forex LLC, ordering joint and several restitution of about USD 172,000 and civil monetary penalties of more than USD 516,000. The orders also permanently enjoin conduct violating the Commodity Exchange Act as charged and impose permanent bans on CFTC registration and trading in any CFTC-regulated markets, resolving the CFTC’s lawsuit. The CFTC’s complaint filed on 28 September 2023 alleged that, from January 2019 to March 2021, Pulido, aided by Lions of Forex, fraudulently solicited at least four customers to trade leveraged or margined retail off-exchange foreign exchange on their behalf. Customers were recruited through a paid forex signals service and higher-fee one-on-one training marketed via Lions of Forex’s website and social media, with representations including guaranteed monthly profits and the ability to withdraw funds at any time; the court found promised returns were not paid and a significant portion of customer funds was not returned on request. The orders also found Lions of Forex aided the fraud by receiving customer funds into its bank accounts, enabling their use in the scheme, promoting Pulido’s purported trading expertise, and communicating with customers through a Lions of Forex email address.

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