Nov 1
2011

The U.S. Commodity Futures Trading Commission (CFTC) Brothers sued brothers Rodney Wagner and Roger Wagner of Grand Prairie for operating a fraudulent foreign exchange (forex) Ponzi scheme.

The civil suit, filed Nov. 1 in U.S. District Court in Dallas, alleges the brothers raised $5.5 million from nearly 100 investors.

The CFTC alleges the brothers provided customers of their company, GID Group Inc., with payout schedules that falsely promised returns of 200%.

The case is the result of an investigation by the CFTC, the Texas State Securities Board, and the U.S. Attorney's Office for the Northern District of Texas.