July 5, 2023

The operators of four feeder funds who failed to register with the CFTC and violated commodity pool regulations have been ordered to pay over $10 million cumulatively.  Hemraj Singh and King Royalty, LLC were ordered to pay about $7 million in restitution and civil monetary penalties, while Surujpal Sahdeo and SR&B Investment Enterprises, Inc., Randy Rosseau and Bull Run Advantage, LLC, and Daniel Cologero and Green Knight Investments, LLC were each ordered to pay under $1 million.  In addition to registration violations, the individuals and their companies collected almost $58 million from investors but used less than $2.5 million for their intended purpose of forex trading, while issuing false statements to investors showing only profits and no losses.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Misrepresentations,