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April 9, 2021

Posted  April 9, 2021

The Alista Group, LLC, and Luis M. Pineda Palacios, a/k/a Luis Pineda, have been ordered to pay civil monetary penalties and restitution in an action initiated by the CFTC alleging that they engaged in precious metals fraud and illegal, off-exchange precious metals sales to retail customers.  In addition, the government alleged that defendants misappropriated customer funds to trade on their own account, pay business expenses, and make payments to customers to sought to cash out.  Alista was ordered to pay a total of $2.2 million, and Pineda was ordered to pay $448,000. CFTC

Tagged in: Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Ponzi Schemes, Regulatory Violations,

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