Owner of Fraudulent Forex Company Titanium Admits Guilt in $6 Million Ponzi Scheme

Lebanese national Henry Abdo, 47, has pled guilty to orchestrating a $6 million investment fraud through his company, Titanium Capital LLC. Abdo's plea came in a U.S. federal court, where he confessed to running a Ponzi scheme that falsely promised guaranteed fixed returns from a non-existent forex platform by using investor funds to pay off earlier investors and benefit himself, including international travel and other personal expenses.

According to court records, Abdo began his deceptive practices in July 2014. He marketed Titanium as a "zero-risk" investment fund, falsely claiming it generated profits from fees on forex transactions. Abdo further misled investors by stating that Titanium was part of a multibillion-dollar holding company, had developed proprietary software, and was registered with the Securities and Exchange Commission (SEC). He also falsely associated himself with various charitable and educational organizations to gain credibility.

Abdo solicited investments through in-person meetings, emails, video conferences, and phone calls. He directed potential investors to websites and promotional materials that depicted Titanium as a legitimate enterprise, but the truth is the company operated as a classic Ponzi scheme.

The scheme affected over 200 investors, many of whom were financially devastated. Some victims reported losing retirement accounts and personal savings, which they relied on for basic living expenses such as food and medication.

On Jan. 13, 2025, Abdo pled guilty to wire fraud, facing up to 20 years in prison.