September 1, 2016
Posted September 1, 2016
The CFTC announced that a trial against Robert Escobio of Miami, Florida, and his companies Southern Trust Metals, Inc. and Loreley Overseas Corporation, has resulted in a final judgment requiring defendants to pay almost $2.5 million in restitution and penalties for engaging in a precious metals scheme and an unregistered futures scheme. CFTC
Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,