|
 Back to Previous Page
 :
A person or firm that acts as a
PRINCIPAL (another favorite title used in
financial fraud, particularly in
TRADE
PROGRAMS), buying and selling from his own
account for position and risk, as opposed to a broker, who acts as an agent for
customers and is paid a commission.
Investment banks, and some commercial banks operating under the
GLASS-STEAGALL
ACT, trade using both positions which brought rise to the
term broker-dealer. One can especially see this in the Treasuries market.
 :
HIGH-YIELD INVESTMENT PROGRAM
fraudsters would have you believe that they either personally carry on trading
of bulk quantities of financial instruments at enormous profits, or that they
are personally affiliated with a TRADER.
While individuals may engage in buying and selling from their own accounts, the
returns are not those promised by fraudsters.
| 
