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April 12, 2018

Posted  April 12, 2018

The CFTC announced that Judge John J. Tuchi of the U.S. District Court for the District of Arizona entered an Order of Default Judgment and Permanent Injunction against Defendants Cory Williams of Gilbert, Arizona, and his company, Williams Advisory Group, LLC (WAG), in connection with a commodity pool fraud that victimized 40 pool participants, including Williams’ family, friends, neighbors, and members of his church and other related churches in and around Phoenix, Arizona. The court’s Order requires Williams and WAG, jointly and severally, to pay restitution of $9,725,017 to defrauded participants and a civil monetary penalty of $9,725,017. The Order also imposes permanent trading and registration bans on the Defendants and prohibits them from violating provisions of the Commodity Exchange Act and CFTC Regulations, as charged. CFTC