Dells man accused in foreign currency scheme - WAOW - Newsline 9, Wausau News, Weather, Sports

Dells man accused in foreign currency scheme


MADISON, Wis. (AP) -- A Wisconsin Dells businessman is accused in a multi-million dollar foreign currency scheme.

A complaint filed in federal court in Madison charges Jacob Omukwe and his two companies, JadeFX and Jade Investments Group, of defrauding more than 500 customers worldwide out of $3.7 million.

The complaint says Omukwe told his customers he would exchange foreign currency on their behalf, but then used the money for his personal benefit.

The State Journal reports the complaint also says Omukwe and JadeFX were not registered as retail foreign exchange dealers. Omukwe's phone number was disconnected. Federal court records do not list a defense attorney.

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