July 6, 2020

The CFTC has simultaneously filed and resolved charges against Illinois-based Foremost Trading LLC and its principal, Mark Miller.  According to the orders, Miller misappropriated customer funds and caused over 500 unauthorized and fictitious trades in proprietary accounts he owned with family and a customer account over which he had trading authority.  In addition to being suspended from trading for two years and permanently barred from future registration with the CFTC, Miller will pay a $250,000 civil penalty.  Together with Foremost, which will separately pay a $200,000 civil penalty, Miller will pay almost $725,000 in restitution.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets,