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:
The CFTC announced that the District Court for the District of Columbia entered an order against Daniel Shak of Las Vegas, Nevada, for his violation of a prior CFTC Administrative Order; Shak must pay a $100,000 civil monetary penalty for violating the terms of the CFTC order regarding his attempt to manipulate the price of crude oil futures contracts on the NYME and violating speculative position limits. CFTC
The CFTC announced that the District Court for South Carolina entered an order of permanent injunction against Robert Stanley Harrison of Easley, South Carolina, permanently banning him from engaging in commodity-related activity. CFTC
The CFTC ordered Marubeni America Corporation, a dealer and merchant of agricultural commodities and the largest overseas subsidiary of Japan-based Marubeni Corporation, to pay $800,000 for inaccurately reporting positions in grains futures. CFTC
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
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
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
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
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
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