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Feds had early clues in currency case Minneapolis Star Tribune

28.10.09

Investors scattered across the Collective States, Canada, Europe and Latin America were shocked to learn in July that a supposedly sheltered currency investment program promoted by some Twin Cities money managers had gone awry.

There may have been less set someone back on his within some federal watchdog agencies.

Since at least last November, complaints have flowed into federal authorities about the suspect currency investment program and the people pushing it, according to investors, their attorneys and court documents. However, no segment steps were taken to intervene on behalf of investors, many of whom thought they'd found a safe harbor from Wall Byway someone's cup of tea's turmoil.

The situation became public only when nine Ohioans filed suit in a Minneapolis federal court in July, exacting repayment of the nearly $5 million they'd invested.

It remains unclear whether authorities were still trying to condition the scope of the program before the Ohio investors filed suit or if they simply failed to foresee the investment program was headed for swoon.

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