**Release: 4842-03****For Release: September 23, 2003**

   NEW YORK FOREIGN CURRENCY (FOREX) FIRM CHARGED WITH DEFRAUDING 378 INVESTORS OF MORE   THAN $7 MILLION IN COMMODITY SCAM  

**U.S. Commodity Futures Trading Commission Charges Sun Platinum Group LLC and Eduard   Dmanskiy With Commodity Scam Involving Offshore Entities; Federal District Court Judge   Orders Defendants’ Assets Frozen**

   WASHINGTON, D.C. – The U.S. Commodity Futures Trading Commission (CFTC)   announced today that on September 12, 2003, a federal district court judge in New   York, acting on a CFTC   complaint filed earlier   that day, issued an order   freezing the assets and preventing the destruction of the books and records of   defendants **Sun Platinum Group LLC** (Sun Platinum) of New York City, and   **Eduard Dmanskiy** (Dumanskiy)**, also known as Edward Dumansky,** of Spring   Valley, New York.  

   Sun Platinum and Dumanskiy were charged in the CFTC complaint with fraud for allegedly   misappropriating customer funds in a telemarketing scam where retail customers were   solicited to trade foreign currency (forex) futures contracts. The CFTC also charged   the defendants with trading illegal, off-exchange forex futures contracts.  

   Specifically, the complaint alleged that since at least January 2003, Sun Platinum and   Dumanskiy defrauded at least 378 retail customers by misappropriating the more than $7   million solicited from customers for purported opportunities to speculate on the value   of foreign currencies. According to the complaint, instead of trading customer funds,   the defendants misappropriated most of the funds by sending the money offshore to   banks located in Latvia, Costa Rica, and elsewhere. The complaint alleges that many of   these offshore transfers were made to the benefit of relief defendants: **Ocaline   Int’l Corp.; Hessar Alliance, Inc.; Klondike Int’l, Inc.; Pyrmont Alliance   Corp.; Commonwealth Trust Ltd.; and Total Trading Services Ltd.** The court-ordered   asset freeze also applies to the relief defendants, all of whom appear to be located   in foreign jurisdictions.  

   In its continuing litigation in this matter, the CFTC is seeking a permanent   injunction against each defendant, repayment to defrauded customers, return of all   ill-gotten gains from the defendants and relief defendants, and monetary penalties for   each violation of the Commodity Exchange Act.  

   The following CFTC Division of Enforcement staff members are responsible for this   case: Lael E. Campbell, Jamie Brown, Mary Kaminski, Michael Jones, John Dunfee, Joseph   Rosenberg, Paul Hayeck, and Joan Manley.  

   A copy of the CFTC complaint and restraining order may be obtained at   www.cftc.gov.  

**Media Case Enforcement Contact:**    Paul G. Hayeck, Associate Director    CFTC Division of Enforcement    (202) 418-5312  

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**The CFTC Has Issued A Consumer Advisory Warning the Public of the Risks of Foreign   Currency Trading and Foreign Currency Scams**

-     The CFTC has issued a  Consumer    Advisory  (at www.cftc.gov/cftc/cftccustomer.htm) urging the public to scrutinize    claims of high-return, low-risk investment opportunities in foreign currency trading.    This  Consumer  Advisory  provides "red flags" to look for, and    cautionary steps to be taken before making an investment. The CFTC has also issued     Advisories  concerning the  Commodity Futures Modernization Act of 2000 ,    and how FOREX firms may  *lawfully*  offer foreign currency futures and    options trading opportunities to the retail public ( see  CFTC Press Release     4625-02 , March 21, 2002,     CFTC Advisory , March 21,    2002, and  CFTC Advisory 06-01 , February 5,    2001). In addition, the CFTC and National Futures Association (NFA) in August 2003    announced new rules to combat fraud in the retail off-exchange foreign currency    futures market ( see  CFTC News Release  4833-03 , August 26, 2003).   

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