The Commodity Futures Trading Commission sued Cash FX Group, The Conversion Pros and three individuals over an alleged multilevel marketing Ponzi scheme that collected more than $950 million for purported retail forex trading. The complaint, filed in the U.S. District Court for the Middle District of Florida, alleges Cash FX conducted minimal forex trading, misappropriated nearly all participant funds and used later contributions to pay fictitious returns. The CFTC says Cash FX promoted professional traders, proprietary algorithms and artificial intelligence while promising weekly returns of as much as 15%. Participants allegedly lost at least $406 million, while millions of dollars were directed to each defendant. The agency seeks restitution, disgorgement, civil monetary penalties, permanent injunctions and trading bans; the allegations have not been proven in court.