A Holmdel man allegedly bamboozled his clients out of $1 million worth of investments, according to the Commodity Futures Trading Commission.
Alex Vladimir Ekdeshman was ordered to pay $2.5 million by the CFTC for allegedly soliciting investments to his firm Paramount Management and telling investors foreign trading accounts while falsifying the company's trading record.
According to NJ.com, Ekdeshman didn't open any accounts with the $1.337 million customers gave the firm to invest.
NJ.com reported Ekdeshman's agreement includes $1.146 million in restitution to customers and $1.337 in fines. Edkeshman neither plead guilty nor not guilty as a part of the settlement.