Trade Forex:Forex promoter Ali banned for life, dodges jail and fines
Article Summary:
By Canwest News Service
Thirty-three-year-old Cem Ali has been banned for life from the B.C. securities market after a brief but catastrophic career in foreign exchange trading.
In 2006, Ali set up a private company called
Article Content:
Forex promoter Ali banned for life, dodges jail and fines
By Canwest News Service
Thirty-three-year-old Cem Ali has been banned for life from the B.C. securities market after a brief but catastrophic career in foreign exchange trading.
In 2006, Ali set up a private company called Horizon FX Investments and raised million from nearly 1,000 investors, most B.C. residents, for investment in foreign exchange futures contracts.
Ali’s background was in information technology. He had no experience in securities and he was not registered as a broker or advisor. He claimed in Horizon’s offering memorandum that investors’ money would be placed with traders who had been carefully selected based on their professionalism and “proven track record of performance.”
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