Swiss Company Formation

CFTC charges two air traffic controllers and trader with forex fraud

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of charges against two air traffic controllers, Louis J. Giddens, Jr. of Fayetteville, Ga., and Anthony W. Dutton of Peachtree City, Ga., as well as commodity trader Michael Gomez of Valrico, Fla., for operating a fraudulent off-exchange foreign currency (forex) scheme in which they solicited and accepted approximately $1.4 million from the general public. The CFTC complaint charges that, from at least January to October 2010, Giddens and Dutton operated commodity pools Currency Management Group, LLC and Pinnacle Capital Partners, LLC , respectively, and fraudulently solicited and accepted funds to trade forex primarily from individuals throughout Georgia and Florida.  Giddens and Dutton then allegedly transferred some, but not all, of the solicited funds to another entity they owned and operated called Pinnacle Trade Group, LLC (Pinnacle Trade) for the purpose of trading forex.  Once transferred to Pinnacle Trade, the funds allegedly were sent either directly to a forex trading account or to a bank account in the name of Elyon, LLC , a company owned and operated by Gomez, so that Gomez could trade the investors’ funds.  However, allegedly only a portion of customer money was traded in forex, with the remaining funds misappropriated by Gomez and Dutton.  The complaint further alleges that Giddens and Dutton induced investment in their respective pools by misrepresenting to pool participants in direct face-to-face meetings, in telephone conversations, and through written promissory notes that they would provide a guaranteed monthly return of either five or ten percent on investments from trading forex.  Giddens and Dutton also allegedly prepared false online account statements for the pool participants showing the profitability of their investments when, in fact, the investments were not profitable. Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of charges against two air traffic controllers, Louis J. Giddens, Jr. of Fayetteville, Ga., and Anthony W. Dutton of Peachtree City, Ga., as well as commodity trader Michael Gomez of Valrico, Fla., for operating a fraudulent off-exchange foreign currency (forex) scheme in which they solicited and accepted approximately $1.4 million from the general public.

Emile Chouriet Watches | Swiss Gold Price by Emile Chouriet ...

Michael Weare has been a professional writer for 30 years, writing about Japanese technology, German and Italian cars, British tailoring and Swiss watches. Michael manages the editorial content of Click Tempus and will be keeping the magazine fresh and informative with regular features, as well as bringing great writers to the magazine. Email: michael@clicktempus.com

Swiss watchmaker Emile Chouriet has added a new model to its flagship Prince collection. Gold Prince, a timepiece highlighted with precious gold accents, has been given a glamorous new look through the combination of steel and gold, and the fitting of a finely engine-turned dial in an imposing rectangular case. The watch runs on an ETA 2836 automatic movement.

But who exactly is Emile Chouriet? The Chouriet website will have you believe that the firm has over 300 years of history in Geneva, with an excellent reputation for creating fine watches.

The official Emile Chouriet version

According to the company website Emile Chouriet left France in 1685 to escape religious persecution and set up shop in Geneva that same year. He began decorating superb pocket watches called ‘onions’. The ‘Les Ailes du Temps’ logo which adorns every Chouriet watch, represents the relationship between time and the wristwatch and Emile Chouriet, the great name in watch decoration, who will always be synonymous with the brand.

But although Emile Chouriet may have escaped religious persecution 300 years ago, today he is the subject of some circumspection and even persecution in the sometimes cynical environs of the watch forums.

The watch forum version

One angry watch forum pundit writes:

I would contend that Emile Chouriet is a bullshit Chinese brand produced (not sure where–presumably China) using Swiss movements. The history and the “since 1685″ is pure fabrication. The brand is a cynical attempt to sell a “European luxury” item to Chinese consumers by convincing them of a non-existent pedigree…in China this is a common trick in numerous industries.

An Emile Chouriet is just one step above a counterfeit in my book, as the provenance is smoke and mirrors. The printed ads imply a long European heritage that is simply non-existent. Get a Sea-Gull–at least they’re not pretending to be anything other than what they are.

Here is what my research turned up: the stylized “Emile Chouriet” trademark is registered in the PRC to Fiyta (HK) Co. Ltd. (飞亚达(香港)有限公司). In 2009/2010, Fiyta (HK) Co. Ltd. purchased 100% of the Swiss entity Montres Chouriet SA from the Hong Kong-registered company Citylion International Limited (城亨國際有限公司) for HKD 9 million. Fiyta is one of China’s larger watch companies and makes the Chinese space watch.