Traders Domain Investigation

Banks Law Office

On September 30, 2024, the Commodity Futures Trading Commission filed a lawsuit in the Southern District of Florida against Traders Domain (“TD”) and other defendants. The complaint alleged that Traders Domain operated a Ponzi scheme. That is, Traders Domain used new investor money to pay back old investors to create the illusion that the investments were profitable even though they did not have real cash flow from operations.

From at least November 2019 until the time the CFTC filed the lawsuit, TD and its principals — including Joseph Safranko (a.k.a. Ted Safrank) and David William Negus — operated the Ponzi scheme. It was a multi-layered scheme. They used other individuals and entities (sponsors), with each sponsor acting like a spoke extending from the TD hub.

The other defendants in the case include: Ares Global (a.k.a. “Trubluefx”), Algo Capital LLC, Algo FX Capital Advisor (a.k.a. “Quant5 Advisor LLC”), Robert Collazo Jr., Juan Jose Herman, Stephen Likos, Michael Shannon Sims, Holton Buggs Jr., Centurion Capital Group, Alejandro Santiestaban (a.k.a. Alex Santi), Gabriel Beltran, and Archie Rice.

The Court issued a statutory restraining order against the defendants, freezing their assets and giving the CFTC immediate access to their books and records.

If you purchased investments in Traders Domain or its affiliates, it may be in your interests to speak to an attorney about your options to recover some or all of your investment losses.

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