WASHINGTON, D.C. -- Judge K. Michael Moore of the U.S. District Court for the Southern District of Florida entered an order of default judgment and permanent injunction against David L. Ortiz of Vero Beach, Fla., and his companies, Goyep International, Inc. (Goyep) of Vero Beach, Fla., and Royal Returns, Inc. of Hollywood, Florida. The order stems from a Commodities Future Trading Commission enforcement action filed on February 23, 2011 that charged the defendants with defrauding customers in an off-exchange foreign currency (forex) scam and with misappropriating customer funds (see CFTC New Release 5992-11).
The court order requires Ortiz, Goyep, and Royal Returns jointly and severally to pay $292,676.62 in restitution and a civil monetary penalty of $878,000. The court also ordered Ortiz’s wife, Loredana Ortiz, and her company, Natural Health Matters, L.L.C. of Pembroke, Fla., named as relief defendants to jointly and severally disgorge $20,604 of ill-gotten gains they received as a result of the unlawful conduct and to which they were not entitled.
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