Archive

April 1, 2015

The CFTC filed a civil enforcement complaint in the District Court for the Northern District of Illinois against Kraft Foods Group, Inc. and Mondelēz Global LLC, headquartered in Northfield and Deerfield, Illinois, respectively, for manipulation and attempted manipulation of the prices of cash wheat and wheat futures.  CFTC

March 31, 2015

New York Attorney General Eric T. Schneiderman announced his office and the Attorneys General of Oregon, Minnesota, Missouri and Texas filed lawsuits against Orbital Publishing Group, Inc. for mailing millions of unauthorized and allegedly misleading magazine and newspaper subscription notices to consumers nationwide. The solicitations were sent without the permission of the publishers and overcharged consumers. NY

March 31, 2015

The CFTC filed a lawsuit charging Maverick International, Inc. and its principals, Wesley Allen Brown and Edward Rubin, with operating a fraudulent commodity pool.  CFTC

March 30, 2015

The CFTC announced that the District Court for the District of Columbia entered an order against Daniel Shak of Las Vegas, Nevada, for his violation of a prior CFTC Administrative Order; Shak must pay a $100,000 civil monetary penalty for violating the terms of the CFTC order regarding his attempt to manipulate the price of crude oil futures contracts on the NYME and violating speculative position limits.  CFTC

March 27, 2015

The CFTC announced that the District Court for South Carolina entered an order of permanent injunction against Robert Stanley Harrison of Easley, South Carolina, permanently banning him from engaging in commodity-related activity.  CFTC

March 26, 2015

Pinnacle Financial Consulting, LLC and its owner Robert Burton have been ordered to pay more than $1.9 million for preying upon vulnerable consumers during the foreclosure crisis and engaging in the unauthorized practice of law. MA

March 23, 2015

The CFTC ordered Marubeni America Corporation, a dealer and merchant of agricultural commodities and the largest overseas subsidiary of Japan-based Marubeni Corporation, to pay $800,000 for inaccurately reporting positions in grains futures.  CFTC

March 19, 2015

Bank of New York Mellon agreed to pay $714 million to settle charges the bank engaged in fraud and other misconduct when providing foreign exchange (“FX”) services to its customers. As part of the settlements with the US and New York, BNYM admitted that contrary to representations to clients that it provided “best rates” and “best execution” for FX transactions, the Bank actually gave clients the worst reported interbank rates of the trading day. The charges originated in a lawsuit brought by a whistleblower under the New York False Claims Act.

March 19, 2015

Florida Attorney General Pam Bondi’s Division of Consumer Protection is suing dating company Singles Plus for allegedly making false claims about success rates, matches and its screening process. FL

March 16, 2015

The CFTC ordered ICE Futures U.S. Inc. to pay $3 million in civil penalties for recurring data reporting violations. CFTC