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April 24, 2018

Posted  April 24, 2018

The CFTC announced the filing of a civil enforcement action on April 23, 2018, in the U.S. District Court for the Eastern District of New York charging Defendant Kevin Scott Antonovich of Woodside, New York, with misappropriation of customer funds and fraudulent solicitation in connection with investments in a commodity pool. The CFTC Complaint also charges Antonovich with registration violations. As alleged in the CFTC Complaint, from September 2015 through August 2016, Antonovich fraudulently solicited and received approximately $284,000 from at least 154 pool participants in connection with pooled investments in off-exchange binary options. As further alleged, Antonovich misappropriated approximately $124,000 of pool participant funds for business expenses and his personal use, made false and misleading representations to pool participants, and fabricated documents purporting to show funds available for return to pool participants. CFTC