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  1. CNN. Broadcasting While Trying To Offer Up Some Reserves To Post Theodore Hudson's Bail ! Court docs reveal reason for FBI raid Published 08/03 2015 11:11PM Updated 08/03 2015 11:23PM FBI raid home on Whatley Drive/Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. It was a story first published earlier this evening by Lance Griffin with The Dothan Eagle. Court documents reveal the reason for an FBI raid last week at a home on Whatley Drive. Court documents show that numerous records related to foreign currency exchange were removed from the home. Documents reveal: Beginning from at least January 2012 and continuing to the present (the "relevant period"), Husain Tayeh ("Tayeh"), Dinar Corp., Inc. ("DCI") and My Monex, Inc., a Nevada corporation ("Monex NV") (collectively, the "Defendants"), engaged, and are engaging, in a fraudulent scheme involving the offering of agreements, contracts or transactions in offexchange foreign currency ("forex") on a leveraged, margined, or financed basis to retail customers who were not eligible contract participants ("ECP5") and that do not result in actual delivery of forex within two (2) days of the transaction date(s). Defendants, who have never been registered as required with the Commission, have engaged in more than $8 million of these illegal, off-exchange retail forex transactions. Tayeh created and operates DCI and Monex NV, business entities that he uses to facilitate the Defendants' fraudulent activities and that act as the counterparty(s) in the subject agreements, contracts or transactions in forex. Defendants operate their fraudulent scheme via the Internet through the use of the website www.dinarcorp.com ("webSite"), by offering, and entering into, transactions in forex with non-ECP retail customers that are leveraged, margined or financed by the Defendants, and that result in actual delivery of forex - if at all - within periods of not less than fifteen (15) days and as much as one hundred twenty (120) days following the date of the transaction(s). In furtherance of the fraudulent scheme, Tayeh, individually and on behalf of DO and Monex NV, made, and continues to make, material misrepresentations and omit material facts in solicitations to actual and prospective customers via the website, including but not limited to: (a) representing that DO operates a "fully licensed and fully compliant licensed money services business" but failing to disclose that DO has been served with cease and desist orders in the states of Texas and Illinois for operating without required licenses; ( representing that DO and Monex NV provide the "best price guaranteed" and the "best prices up front all the time" but failing to disclose that the forex transactions they offer to retail customers include significant finance charges; © failing to disclose that DO and Monex NV are each operating as a registered foreign exchange dealer ("RFED") without being registered with, the Commission as required; and (d) failing to disclose that Tayeh is acting as an associated person ("AP") of an RFED(s) without being registered with the Commission as required. By virtue of this conduct and the further conduct described herein, the Defendants have engaged, are engaging, or are about to engage in acts and practices in violation of Section 4b(a)(2)(A) and © of the Commodity Exchange Act (the "Act"), as amended, 7 U.S.C.§ 6b(a)(2)(A), © (2012) and Commission Regulation ("Regulation") 2((1) and (3), 17 C.F.R. § 5.2((1), (3) (2014); DO and Monex NV have engaged, are engaging, or are about to engage in acts and practices in violation of Section 2©(2)©(iii)(I)(aa) of the Act, as amended, 7 U.S.C. § 2©(2)©(iii)(I)(aa) (2012), and Regulation 53(a(6)(i), 17 C.F.R. § 5.3(a)(6)(i) (2014); and, Tayeh has engaged, is engaging, or is about to engage in acts and practices in violation of Section 2©(2)©(iii)(1)(aa) of the Act, as amended, 7 U.S.C. § 2©(2)©(iii)(I)(äa) (2012), and Regulation 53(a)(6)(ii), 17 C.F.R. § 5.3(a)(6)(ii) (2014). Accordingly, pursuant to Section 6c of the Act, as amended, 7 U.S.C. § 13a-1 (2012), and Section 2©(2)© of the Act, 7 U.S.C. § 2©(2)© (2012), the Commission brings this action to enjoin Defendants' unlawful acts and practices, to compel their compliance with the Act and the Regulations promulgated thereunder, and to enjoin them from engaging in any commodity related activity. 6. Unless restrained and enjoined by this Court, there is a reasonable likelihood that Defendants will continue to engage in the acts and practices alleged in this Complaint, and similar acts and practices, as more fully described below.Additional information Relief Defendant Theodore S. Hudson, II ("Hudson"), is a resident of Dothan, Alabama. Hudson is the President of Monex AL and a shareholder of Monex AL. Hudson has never been registered with the Commission in any capacity. Hudson is neither a financial institution, registered broker dealer, insurance company, financial holding company, or investment banking holding company, nor an AP of any such entity. Relief Defendant My Monex, Inc., an Alabama corporation ("Monex AL"), is a business corporation organized and operated pursuant to the laws of the State of Alabama. Monex AL's President and organizer is Hudson, and it is operated out of Hudson's residence in Dothan, Alabama. Monex AL has never been registered with the Commission in any capacity. Monex AL is neither a financial institution, registered broker dealer, insurance company, financial holding company, or investment banking holding company, nor an AP of any such entity. http://www.dothanfirst.com/news/court-docs-reveal-reason-for-fbi-raid
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