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Fraud in CFTC-Regulated Markets

This archive displays posts tagged as relevant to fraud in markets regulated by the Commodity Futures Trading Commission, the CFTC, or governed by the Commodity Exchange Act, the CEA. You may also be interested in the following pages:

Page 29 of 44

September 21, 2016

The CFTC ordered Chicago-based Advantage Futures LLC, its CEO Joseph Guinan, and former Chief Risk Officer William Steele to pay a $1.5 million penalty for supervision and risk management failures and making inaccurate statements in filings with the CFTC.  CFTC

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

Russian Roulette in Futures Trading: The CFTC Cracks Down on Fictitious Trades

Posted  09/21/16
By Ronny Valdes On Monday September 19th, the U.S. Commodity and Futures Trading Commission (CFTC) announced the filing and simultaneous $5 million settlement of charges against JSC VTB Bank (VTB), a Russian state-backed lender, for executing fraudulent ruble-dollar trades. VTB and its U.K subsidiary, VTB Capital PLC (VTB Capital), were accused of executing noncompetitive and fictitious block trades in ruble-dollar...

Tagged in: Foreign Exchange, Fraud in CFTC-Regulated Markets, Market Manipulation and Trading Violations,

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September 20, 2016

The CFTC filed a civil enforcement action against Florida-based Defendants KB Concepts Group, LLC (d/b/a) Apex Asset Advisors, LLC, and Kelvin Burgos, alleging that they 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,

September 20, 2016

Raja Michael Mawad and his company, RNS Holdings LP, a Texas corporation headquartered in Houston, Texas, agreed to pay more than $389,000 to settle charges that they engaged in fraud upon participants in a commodity pool they operated and for failing to file required annual reports.  CFTC

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

September 14, 2016

Grace Elizabeth Reisinger of Grand Island, Nebraska, was found liable by jury verdict for  fraudulently soliciting at least $2.75 million from investors in a commodity pool scheme.  CFTC

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

September 12, 2016

A federal court in North Carolina ordered James A. Shepherd and his company, James A. Shepherd Inc. to pay more than $15 million in penalties and restitution for engaging in a commodity pool fraud scheme.  CFTC

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

September 7, 2016

The CFTC filed a civil injunctive enforcement action against Fan Wang a.k.a. Alex Wang, a Chinese national who resides in Short Hills, New Jersey, charging Wang with making false reports in connection with commodity futures contracts he purchased for his employer’s proprietary trading account.  CFTC 

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

September 1, 2016

The U.S. District Court for the District of Nevada ordered My Global Leverage, LLC, which did business in Las Vegas, Nevada, and its owner and managing member Toney Blondo Eggleston, who resided in Las Vegas and Newport Coast, California, to pay over $1.4 million in penalties and restitution for engaging in illegal, off-exchange precious metals transactions.  CFTC

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

September 1, 2016

The CFTC announced that a trial against Robert Escobio of Miami, Florida, and his companies Southern Trust Metals, Inc. and Loreley Overseas Corporation, has resulted in a final judgment requiring defendants to pay almost $2.5 million in restitution and penalties for engaging in a precious metals scheme and an unregistered futures scheme.  CFTC

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

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