CFTC Enforcement

November 13, 2014

The CFTC settled charges against Rosenthal Collins Group, LLC for failing to supervise an Associated Person and for failing to provide and maintain an adequate program of supervision over trading.  CFTC

November 12, 2014

The CFTC reached settlements with 5 banks for over $1.4 billion on charges that Citibank, HSBC, JPMorgan, RBS, and UBS attempted to manipulate foreign exchange benchmark rates.  CFTC

November 6, 2014

The CFTC obtained a restraining order freezing assets and prohibiting the destruction or concealment of books and records of Emini Experts LLC, Capital Trading Concepts LLC, and Dante S. Giovannetti, all of Orlando, Florida, in a case involving an alleged fraud scheme.  CFTC

October 27, 2014

A federal court has issued an order imposing permanent trading and registration bans and a $210,000 penalty against Neal E. Hall of Reidsville, North Carolina for registration violations and failure to include certain required disclosures on his website.  CFTC

October 24, 2014

A federal court has ordered California resident Ryan A. Nassbridges, and his companies, American Bullion Exchange ABEX Corp. and American Bullion Exchange, LLC, to pay over $18 million in penalties in a commodity pool precious metals scheme.  CFTC

October 24, 2014

The CFTC has obtained a federal court order of default judgment against defendant Financial Robotics, Inc., a Texas corporation, for its participation in a fraudulent Forex scheme, requiring the defendant to pay restitution of $827,000 and a penalty of almost $2.5 million.  CFTC

October 22, 2014

The CFTC has obtained a federal court order against John B. Wilson and his company, JBW Capital LLC, both of Boston, Massachusetts, for fraud and registration violations of the Commodity Exchange Act (CEA), requiring the defendants to pay a $2.86 million civil penalty and imposing permanent trading and registration bans on the defendants.  CFTC

October 9, 2014

The CFTC has obtained a federal court order of default judgment against Vertical Integration Group LLC of Lake Worth, Florida, and its Managing Members, Richard V. Morello and Junior Alexis, for engaging in illegal, off-exchange precious metals transactions, requiring payment of over $2.5 million in sanctions.  CFTC

October 8, 2014

The CFTC has settled charges against Friedberg Mercantile Group, Inc. of Toronto, Canada for secured amount deficiency, commingling of customer funds, and failure to timely report secured amount deficiency.  CFTC

October 2, 2014

The CFTC has obtained a federal court order permanently enjoining Glenn Kane Jackson of Healdsburg, California, and Highlands Capital Management, L.P. from trading for operating a fraudulent off-exchange foreign currency pool scheme.  CFTC