A UK currency trader living in Turkey has disappeared and nearly $200 million in customer money is missing as well. Speculation is that he is on the run in Asia after reportedly taking investments from relatives and family friends as well as professional athletes, leaving them all potential victims of a fraud. British police are investigating what is alleged to be the largest fraud in the island’s history, according to a UK Telegraph press report. If true, the $200 million fraud, while similar in some respects to Bernie Madoff’s infamous U.S. fraud, pales in comparison to the size of Madoff’s…
UK Currency Trader Missing Along With $200 Million
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.