May 14, 2021
Posted May 14, 2021
A consent order was entered against Leonard Cipolla, who fraudulently solicited individuals for a commodity pool operated by his company Tate Street Trading. Cipolla received over $7 million from pool participants and misappropriated more than $5 million of it. The order requires Cipolla to pay restitution of $5.1 million. CFTC (see criminal sentencing)
Tagged in: Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Misrepresentations, Ponzi Schemes,