Mars FX, led by David Choi, promised unrealistic 19% annual returns with no losses—an obvious red flag—yet attracted about $600 million from investors. Funds were routed to a secret offshore "technology partner" later identified as inactive. 

Deloitte audited the fund and issued clean reports without verifying assets, according to lawsuits. 

Now the money is missing, with global investigations underway. Victims include repeat fraud survivors. 

Despite this failure of auditors and regulators, U.S. authorities are proposing reduced disclosure rules and cutting enforcement, raising concerns that safeguards against fraud are being weakened.