FOREX Fraud? Owner Of Foreign Currency Exchange Trading Company Is Charged

Lyndon Lydell Parrilla has been charged with wire fraud arising out of the operation of Green Tree Capital. According to the federal complaint against him, Parrilla, through Green Tree, solicited more than $5 million from customers, purportedly for the purpose of trading in the foreign currency exchange (“FOREX”) market. The government alleged that Parrilla traded, at most, a small portion of customer funds in FOREX and instead spent most of it on personal expenses, including more than $950,000 at casinos and approximately $130,000 to purchase a car. Between October 2009 and February 2011, Parrilla also withdrew more than $2.1 million in cash from Green Tree customer accounts, according to the government. During that same time period, Green Tree continued to e-mail account statements to customers purporting to show trading gains and losses, the government alleged. In many instances, according to the government, the account statements showed that customers’ accounts had gained value through successful FOREX trading.