Have a Claim?

Click here for a confidential contact or call:

1-347-417-2192

CFTC Enforcement

Please also see:

Page 36 of 52

February 8, 2016

4X Solutions, Inc. and its principal, Whileon Chay, both of New York City, were ordered to pay over $10 million in penalties and disgorgement in connection with a foreign currency Ponzi scheme.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Ponzi Schemes,

February 5, 2016

The CFTC filed a civil injunctive anti-fraud enforcement action against Rico Omar Cox of Dania Beach, Florida, alleging that between August 2010 through March 2015, Cox fraudulently solicited his trading services for managed commodity futures accounts, and lost most of the $499,000 he traded for or on behalf of at least nine clients. CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

February 4, 2016

A federal court in Fort Lauderdale, Florida ordered Robert Tripode of Boynton Beach, Florida to pay over $300,000 in penalties and restitution in connection with his fraudulent activities in the Forex market as an employee and agent of Forex Monthly Income Fund (FMIF), a commodity pool based in Miami, Florida.  CFTC

Tagged in: Foreign Exchange, Fraud in CFTC-Regulated Markets,

February 4, 2016

The U.S. District Court for the Southern District of Florida ordered Worth Group Inc. of Jupiter, Florida, its owner and operator, Andrew Wilshire of Jupiter, Florida, and Wilshire’s sister, Eugenia Mildner also of Jupiter, Florida, who served as Worth’s sole officer and director prior to February 2012, to pay restitution of $1,250,000 and a civil monetary penalty of $1,250,000 as sanctions for engaging in an illegal off-exchange precious metals scheme.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

February 3, 2016

The CFTC filed a civil injunctive action against Oakmont Financial, Inc. of Boynton Beach, Florida, and Joseph Charles DiCrisci of New York, New York, an Oakmont owner and principal, alleging that the defendants engaged in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

January 20, 2016

The CFTC announced that it filed a civil enforcement action charging Kevin J. Davis of Ponca City, Oklahoma with acting as an unregistered commodity pool operator, failing to operate his commodity pool as a separate legal entity, accepting funds from pool participants in his own name, and commingling pool participants’ funds with his own.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

January 13, 2016

Otkritie Capital International, Ltd., a London-based financial services company, agreed to pay a $140,000 penalty to settle charges that it violated CFTC Regulation 30.4 by permitting two of its U.S. customers to trade futures and options in foreign markets while not registered as a futures commission merchant.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

January 13, 2016

The U.S. District Court for the Northern District of Illinois entered a default judgement order against Nikolai S. Battoo, BC Capital Group S.A., BC Capital Group International Limited, and BC Capital Group Holdings S.A. on charges that they operated a global commodities futures and option fraud scheme, requiring the defendants to pay $294,246,741 in restitution, a $147 million civil penalty, and to disgorge $49 million received as ill-gotten gains.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Misrepresentations,

January 7, 2016

The CFTC filed a complaint against Ghassan Tawachi (a/k/a Marco Tawachi) and his firm, Intelligent Trades, LLC, alleging the defendants fraudulently marketed commodity futures trading software, under which Tawachi indirectly controlled the trading of his customers’ commodity futures accounts and collected substantial fees for the use of his trading software. In all, the defendants allegedly defrauded clients of over $479,755.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

December 18, 2015

J.P. Morgan Chase Bank agreed to pay $100 million -- $40 million as a penalty and $60 million in disgorgement -- to settle allegations that it failed to disclose its preferences for investing client funds in certain investment vehicles.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Misrepresentations,

1 … 34 35 36 37 38 … 52

Newsletter

Subscribe to receive email updates from the Constantine Cannon blogs

Sign up for: