Professor and CPA Charged with Forex Fraud

The Securities and Exchange Commission Wednesday obtained an emergency court order to freeze the assets of Texas A&M finance professor Robert D. Watson. The accounts of Houston lawyer and CPA Daniel J. Petroski was also frozen, along with two firms. Watson and Petroski are charged with forging bank records to trick investors into believing they were earning excessively high returns in foreign exchange trading.
The Players & The Crime
Watson and Petroski are alleged to have raised over $19 million from investors using the following entities:

Alpha One: This foreign-currency trading software program was purportedly owned by their firm.
PrivateFX Global One Ltd.: Owned …read more