James G. Ossie of Alpharetta, Georgia, and his company, CRE Capital Corporation, were sued by the Securities and Exchange Commission and the Commodity Futures Trading Commission for perpetrating an alleged Ponzi scheme.

Investigation by securities law firm of John S. Chapman & Associates has established that Ossie’s alleged $25 million scheme victimized more than 120 investors.  Ossie likely started his scheme in early 2008, when CRE began offering their “30 Day Currency Trading Contracts” with a risk free, 10 % guaranteed return in one month.  The returns to new investors were supposed to be coming from fluctuations of United States and Japanese currency during the trade of currency contracts.  In fact, the “returns” appear to have been paid from funds deposited by subsequent investors, the classic sign of a Ponzi scheme, according to John S. Chapman, a securities fraud attorney

Chapman & Associates found that, contrary to Ossie’s assurances to investors, his Forex trading operation was incurring ongoing losses, which totaled over $4 million since 2008.  “Madoff-like Ponzi schemes, similar to the one that Ossie seems to have perpetrated, have mushroomed throughout the country, a sign of the current economic times,” said Chapman, whose law firm often prosecutes securities fraud cases on behalf of victimized investors.