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