Scott Williamson

Scott Williamson, deputy regional counsel for the CFTC, said the firm dealt mostly in the cash foreign exchange contract and phased out a business in futures contracts.

"It was a scheme of providing misleading advertising and solicitations that injured a large number of customers, over 1,000 customers," said Scott Williamson, deputy regional counsel for the CFTC, a federal agency.

"And so that's exactly why the CFTC had to get involved to secure an injunction against future actions of this nature," Williamson said.
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But the money is unlikely to be obtained because the companies are defunct, Williamson said.

"It's essentially an empty judgment," he said.
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"We don't know what experiences they may have had," Williamson said.

We don't know where he is right now , said Scott Williamson , the lawyer on the case for the CFTC.

A Ponzi is regarded as a fraudulent scheme in which money from new investors is used to provide a return to previous investors.