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CFTC Enforcement Actions

The Commodity Futures Trading Commission (CFTC) is the United States agency with primary responsibility for enforcing the Commodity Exchange Act (CEA) and regulating commodity futures and related markets. Whistleblowers with knowledge of violations of laws and regulations enforced by the CFTC can submit a claim under the CFTC Whistleblower Reward Program, and may be eligible to receive a monetary reward and protection against retaliation by employers.

Below are summaries of recent CFTC settlements or successful enforcement actions. If you believe you have information about fraud which could give rise to a CFTC enforcement action and claim under the CFTC Whistleblower Reward Program, please contact us to speak with one of our experienced whistleblower attorneys.

August 19, 2015

INTL FCStone Markets, LLC, a provisionally registered swap dealer, has agreed to pay a $200,000 penalty to settle allegations that it failed to diligently supervise traders in its Kansas City Energy Group.  CFTC

August 7, 2015

The CFTC has filed an enforcement action against Gary Creagh and Wall Street Pirate Management, LLC, both of New York, for making false, fictitious, or fraudulent statements or omissions to the National Futures Association.  CFTC

August 6, 2015

The CFTC ordered Morgan Stanley & Co. LLC to pay a $300,000 penalty for failing to hold sufficient U.S. dollars in segregated accounts in the United States to meet all of its obligations to cleared swaps customers.  CFTC

August 5, 2015

The District Court for the Southern District of New York ordered Wayne P. Weddington III and his companies Brunswick Capital LLC and Brunswick Capital Partners LP to pay over $1 million in penalties and restitution for defrauding customers.  CFTC

August 3, 2015

The CFTC has charged Husam Tayeh of Oak Lawn, Illinois, as well as Nevada corporations Dinar Corp., Inc. and My Monex, Inc., with operating a fraudulent scheme involving foreign currency (forex) and failing to register with the CFTC.  CFTC

July 31, 2015

Keith F. Simmons and his company, Black Diamond Capital Solutions, LLC, and Deanna Salazar and her companies, Life Plus Group, LLC and Black Diamond Holdings, LLC, have been hit with a $76 million penalty for running a foreign currency exchange (forex) Ponzi scheme.  CFTC

July 22, 2015

Attorney Jay Bruce Grossman, who practices law in Fort Lauderdale, Florida will pay close to $1 million in penalties and restitution for aiding and abetting multiple clients in their operation of illegal and fraudulent precious metals schemes.  CFTC

July 10, 2015

A federal court in North Carolina fined Carl David Wright $1 million for operating a commodity pool fraud in violation of the Commodity Exchange Act, following a criminal case against Wright which concluded last year with a 4-year prison term and criminal fine.  CFTC

July 6, 2015

The CFTC has filed a civil enforcement action against Yumin Li, from the People’s Republic of China, and Kering Capital Ltd., a British Virgin Islands company, with fraud, engaging in fictitious transactions, and trading noncompetitively in violation of the Commodity Exchange Act and CFTC regulations.  CFTC

June 24, 2015

The CFTC has charged Nick A. Wurl and his company Ludiera Capital LLC, both of Chicago, Illinois, with fraud, misappropriation, and the issuance of false statements in connection with a $9 million investment pool scheme.  CFTC
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