# CFTC Charges Sidney J. Charles, Jr. and his Maryland-based Company, The Borrowing Station, LLC, in Forex Ponzi Scheme

> CFTC release 6247-12 · 2012-05-02 · **Ponzi scheme** · ENFORCEMENT

## Key facts

- **Release number:** 6247-12
- **Release date:** 2012-05-02
- **Type:** Ponzi scheme
- **Title:** CFTC Charges Sidney J. Charles, Jr. and his Maryland-based Company, The Borrowing Station, LLC, in Forex Ponzi Scheme
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/6247-12

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 6247-12, "CFTC Charges Sidney J. Charles, Jr. and his Maryland-based Company, The Borrowing Station, LLC, in Forex Ponzi Scheme", 2012-05-02. Retrieved via AI Analytics 2026-07-05 from https://api.ai-analytics.org/cftc-action/6247-12.

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