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Archive

Page 165 of 167

September 30, 2014

The CFTC ordered Scott A. Beatty of Roy, Utah, individually and doing business as Peak Capital Group, Inc., and his Ogden, Utah-based company, Peak Capital Management Group, Inc., to pay restitution of $641,000 and a $1 million penalty for committing fraud and misappropriation, making false statements to the CFTC, and failing to register with the CFTC in connection with operating a leveraged or margined off-exchange foreign currency scheme.  CFTC

September 29, 2014

The CFTC has filed a federal complaint against Inter-Global Currency & Precious Metals LLC of Pompano Beach, Florida, and its owner and manager, Stavros Papastavrou, charging the defendants with engaging in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis.  CFTC

September 26, 2014

-- The CFTC settled charges against Delaware Depository Services Company, LLC for confirming the execution of off-exchange precious metals transactions in violation of Section 4(a) of the Commodity Exchange Act.  CFTC

September 25, 2014

The CFTC entered an order requiring Louis J. Ferone, of Miami, Florida to pay restitution of $55,442 to customers and a $100,000 civil monetary penalty for engaging in illegal, off-exchange precious metals transactions.  CFTC

September 23, 2014

The CFTC settled charges against Todd Young of Atlanta, Georgia, and his company, Young Scott & Associates, for engaging in illegal, off-exchange precious metals transactions, requiring restitution of $162,487 to their customers and imposing permanent registration and trading bans.  CFTC

September 23, 2014

The CFTC filed a federal complaint charging Ohio's John Bullar and his company, Executive Management Advisors LLC, with fraud and embezzlement in operating a $8 million commodity pool and ponzi scheme.  CFTC

September 17, 2014

The CFTC issued an order settling charges against Sean F. McCabe, a resident of Sunny Isles, Florida, and his company, WorldPMX, Inc., for engaging in illegal, off-exchange precious metals transactions and for operating WorldPMX as an unregistered Futures Commission Merchant (FCM).  The order requires McCabe and WorldPMX jointly to pay restitution totaling $1,048,807 and a civil monetary penalty of $140,000, and imposes permanent registration and trading bans on McCabe and WorldPMX.  CFTC

September 16, 2014

The CFTC filed a complaint against Glen Galemmo of Cincinnati, Ohio, charging him with operating a multi-million dollar Ponzi scheme through his firm, QFC, LLC, from February 2010 through at least July 2013 and alleging millions of dollars in fraud.  CFTC

August 21, 2014

The CFTC issued an Order filing and settling charges against S.J. Woods, Inc. and its owners, Peter Blanco and Paul Proscia, involving their participation in illegal, off-exchange financed transactions in precious metals with retail customers. The Order requires them to pay restitution totaling $2,971,992.23 to their customers, imposes permanent trading bans against them, and prohibits them from violating the Commodity Exchange Act, as charged.   CFTC

August 11, 2014

The CFTC entered an Order requiring Jacob N. Stein, individually and doing business as TEPdesign, Inc., to pay restitution of $244,400 to defrauded customers and a $100,000 civil monetary penalty, for committing fraud and misappropriation in connection with a commodity pool that traded leveraged or margined off-exchange foreign currency contracts (forex).  CFTC