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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:

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March 3, 2015

A New York federal court ordered Mark Evan Bloom of Monmouth Beach, New Jersey, and his firm North Hills Management, LLC to pay a $26 million civil monetary penalty for operating a fraudulent commodity pool called North Hills LP and misappropriating customer funds.  CFTC

February 26, 2015

Kevin G. White of The Woodlands, Texas, who orchestrated a $7.4 million commodity pool investment scam during which he misappropriated approximately $1.7 million from pool participants, was sentenced to over eight years in federal prison.  CFTC

February 13, 2015

A federal court ordered Scott M. Ross, formerly of Gilberts, Illinois, and his companies, Maize Capital Management, LLC and Maize Asset Management, LLC, to pay $6.7 million in restitution and civil penalties for defrauding investors, mishandling customer funds, and failing to register as a commodity pool operator.  CFTC

February 4, 2015

Chief Judge Linda R. Reade of the U.S. District Court for the Northern District of Iowa ordered U.S. Bank National Association to pay $18 million dollars to be returned to Peregrine Financial Group, Inc. customers over allegations of misappropriation of customer funds.  CFTC

February 3, 2015

Judge Cormac J. Carney of the U.S. District Court for the Central District of California entered an emergency restraining order freezing assets and prohibiting the destruction or concealment of books and records of defendants Christopher Valois, Cynthia Wong, and their companies, Bertram Trade LLC and Churchhill Commodities Trading LLC, all of Orange County California.  The judge set a hearing date for February 12, 2015.  CFTC

January 26, 2015

The CFTC ordered Anthony Lauria and his company, Gold Coast Bullion, Inc. to pay more than $9.6 million to settle charges of engaging in an illegal, off-exchange precious metals scheme and for committing fraud in connection with those illegal transactions.  CFTC

January 21, 2015

A New York federal court has ordered Michael Kardonick, Gary Shapoff, and Atwood & James to pay a penalty of over $2 million and has imposed a permanent trading ban over allegations of Forex options fraud and misappropriation.  CFTC

January 21, 2015

Bharat Adatia and his companies, Lions Wealth Holdings, Lions Wealth Services, and 20/20 Precious Metals have been ordered to pay over $5.3 million in sanctions for an alleged fraudulent precious metals scheme.  CFTC

January 20, 2015

The CFTC settled charges against Singapore-based Olam International, Ltd., which operates a futures trading desk in London, and its subsidiary, Olam Americas, Inc., based in Summit, New Jersey, requiring them to pay a $3 million civil monetary penalty.  CFTC

January 16, 2015

The CFTC ordered Summit Energy Services, Inc., a Delaware corporation with its principal place of business in Louisville, Kentucky, to pay a $140,000 civil monetary penalty for acting as an unregistered commodity trading advisor.  CFTC
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