A former member of the film trading business who ran a website that ran Forex trading frauds in the US was arrested and accused of running an online marketplace for movie trading and stock manipulation.
In March, a federal grand jury indicted Matthew Rader, of Atlanta, Georgia, and accused him of running a website known as TradingStocks.net that allowed traders to make money by buying and selling stocks.
TradingStills.net was shut down last year, but Rader was arrested after he was indicted.
According to a criminal complaint filed by the FBI and unsealed on Friday, Rader used the site to facilitate the sale of a wide range of securities that were then traded on a trading platform called Bats.
The indictment said Rader’s trading platform had been operating for at least a decade and that the website was used to conduct trades on an “online platform”.
The complaint said Radeer had “direct knowledge” of the site’s activities and that “the website’s operators knowingly traded on the basis of false information.”
The FBI said Rades activities were part of an international crime ring that included members of the United States and other countries.
Rader has been charged with conspiracy to commit securities fraud, conspiracy to violate securities laws, wire fraud, and money laundering.
In addition to the indictment, the government charged Rader with three counts of conspiracy to distribute stolen identities and three counts that relate to the distribution of stolen identities.
Radeers wife, Mary, and two of his children were arrested at a hotel in Atlanta.
The charges were the result of a joint investigation between the FBI, the Securities and Exchange Commission and the Federal Bureau of Investigation.