August 7, 2014

The CFTC obtained an order against Florida residents John P. D’Onofrio, George E. Sarafianos, Scott D. Piccininni and their Florida companyAmeriFirst Management to jointly pay more than $25M in restitution and a $10M penalty for operating a fraudulent precious metals scheme.  Specifically, the order found the defendants operated an illegal, off-exchange precious metals scheme and made numerous fraudulent misrepresentations, false reports, and statements in connection with the scheme.  CFTC

Tagged in: Regulatory Violations,