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May 23, 2017

Posted  May 23, 2017

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida entered a Consent Order against Guardian Asset Group, LLC (Guardian) of West Palm Beach, Florida, and its owner and principal, Andrew Kurzbard, with a last-known address in Hacksneck, Virginia, finding that Guardian and Kurzbard engaged in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis. The Order requires Guardian and Kurzbard, jointly and severally, to pay restitution of $434,413.54 and a $651,620.31 civil monetary penalty. The Order also imposes permanent trading and registration bans against Guardian and Kurzbard and prohibits them from further violating the Commodity Exchange Act, as charged. The Order stems from a CFTC civil enforcement action filed against Guardian and Kurzbard on September 30, 2015, charging them with engaging in illegal, off-exchange precious metals transactions (see CFTC Complaint and Press Release 7257-15). CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,