September 16, 2022

William Thomas Caniff and his company, Berkley Capital Management, LLC have been ordered to pay $2.6 million in restitution and a $3.6 million civil monetary penalty after they were found to have misappropriated participant funds from two foreign exchange binary options trading pools.  Caniff directed about $1.2 million to himself and directed about $1.1 million to his partner, Arie Bos.  Bos then concealed the misappropriation by reporting false profits to pool participants.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets,