CFTC charges two for fraud

San-Francisco-based DBS Capital, and its president Douglas Stevens, were charged with misappropriating at least $5 million from around 200 customers. The customers paid the money in the belief it would be traded on their behalf in the FX futures markets, but instead, the CFTC said, the money was used for personal and business uses, including gambling.

Stevens, who also allegedly issued false reports to customers, used the money to finance another trading firm he operated and financed a gambl