CFTC Charges Colorado Man With $1.9 Million Ponzi Scheme

Charges were unsealed Thursday by the United States Commodity Futures Trading Commission against a Colorado man and his company. The CFTC alleged that Shawon McClung, of Denver, Colorado, operated Flint-McClung Capital LLC of Englewood, Colorado and promised investors lucrative returns from a foreign currency-trading business, but instead operated as a classic Ponzi Scheme that did not do any currency trading.
The District Court Judge handling the case, Judge Christine M. Arguello, has issued emergency orders freezing the assets of the accused during the pendency of an investigation.