They were found guilty of the allegations and have to pay over $4.9m
November 28, 2017
Federal Court Orders California Residents Joseph Dufresne, Megan Renkow, and Their Companies to Pay More than $4.9 Million in Restitution and a Monetary Penalty for Fraud in Connection with Offering and Selling Futures Trading Strategies and Systems
... the Court finds that Defendants:
1) touted the profitability of SoT’s trading strategies and systems and claimed hundreds of thousands of trading profits earned every year when, in fact, none of Defendants’ accounts has ever been profitable;
2) falsely represented to customers and prospective customers that Dufresne was a successful professional trader with years of experience and numerous awards when, in fact, Dufresne has little experience, has never been professionally recognized, and has never been a profitable trader; and
3) purported to make profitable trades in live accounts in real time in SoT’s “Live Trade Room” when, in fact, none of the trades called or profits claimed to have been made in the “Live Trade Room” can be found in any of Defendants’ accounts.