The U.S. Commodity Futures Trading Commission has filed a civil lawsuit against Orlando businessman Carlos Javier Ramirez, charging him with selling at least $4 million in fake gold contracts to people in Puerto Rico and other countries.
According to the suit, Ramirez ran companies called Gold Chasers Inc. and Royal Leisure International Inc., both located in Orlando. The lawsuit says he falsely promised customers he would buy gold at a discount for them, because he bought directly from gold mines in Center and South America.
Both companies were based in an office at the Chase Plaza office building, 121 South Orange. He allegedly used a website called MyGoldDesk.com, which on Tuesday was displaying a “Suspended” sign.
The suit charges Ramirez with “misappropriating customer funds and engaging in fraudulent sales solicitations in connection with the purported purchase of physical gold.”
The scheme allegedly dates to February 14, 2012, and ripped off at least 20 customers.
The feds allege in the lawsuit that Ramirez spent about $3.95 million on his personal expense, and also paid false profits to some customers, “in the manner of a Ponzi scheme.”
Ramirez also told customers they would have the opportunity to take physical possession of gold bars, which was also false, the lawsuit says. He allegedly sent out phony invoices and account statements to some customers in an attempt to conceal the fraud.
The CFTC is trying to force Ramirez to return his “ill-gotten gains” and slap him with penalties and ban him from future trading in commodities.
Ramirez could not be reached for comment immediately. The lawsuit was filed Tuesday in Orlando federal court.
A LinkedIn profile identifies him as chairman and president of Royal Leisure International, and says he “built his foundation for successful business and best practices beginning as an evangelist and motivational speaker throughout the United States, Mexico, Canada, Puerto Rico, and the Dominican Republic.” It says he worked on a Christian television network at some point.
Contact me with a business news tip at pbrinkmann@orlandosentinel.com or 407-420-5660; Twitter is @PaulBrinkmann
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