Enforcement Actions

The CFTC Division of Enforcement investigates and prosecutes alleged violations of the Commodity Exchange Act and Commission regulations. The CFTC takes enforcement actions against individuals and firms registered with the Commission, those who are engaged in commodity futures and option trading on designated domestic exchanges, and those who improperly market futures and options contracts.

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Date ENFORCEMENT ACTIONS
TEXAS COMMODITY BROKER COMMITTED SOLICITATION FRAUD; In CFTC Action, D. Michael Sheaves Fined $50,000 and Ordered to Pay Restitution for Fraudulently Failing to Advise Prospective Clients of Significant Trading Losses
CFTC SETTLES COMMODITY FRAUD SOLICITATION CASE AGAINST CALIFORNIA TRADING SYSTEM DEVELOPER; Defendant Abdullah Alsafari Barred from Further Fraudulent Conduct in Violation of Federal Commodities Laws
FLORIDA COMMODITY TRADING SYSTEM DEVELOPER AND NEW YORK PUBLISHER SETTLE CFTC FRAUD ACTION; CFTC Finds that George Angell, TradeWins Publishing and its President, Stephen Schmidt, Fraudulently Marketed Commodity Trading System
THREE FORMER EMPLOYEES OF CHICAGO COMMODITY FIRM SETTLE GOVERNMENT ACTION FOR FRAUDULENT TRADING; Defendants Martin Brown, Geoffrey S. Thompson, and Ydiyell Howard Prohibited From Trading in the Commodity Markets
CFTC SETTLES FRAUD ACTION AGAINST WEST VIRGINIA COMMODITY POOL OPERATOR; Defendants Robert L. Dormagen and Delta Financial Corporation Permanently Barred From Trading Futures or Options
CFTC SETTLES CHARGES AGAINST MINNESOTA DEFENDANTS IN COMMODITY POOL FRAUD CASE; Leonard Nauman and His Two Companies, Pension America, Inc., and Futures Profit Making, LLC, Are Permanently Barred From Trading For Others
LOS ANGELES COMMODITY TRADER SETTLES CFTC FRAUD ACTION; Alfred Gladstone Ordered to Pay Up To $171,000 in Restitution and Civil Monetary Penalty Pursuant to Payment Plan and Agrees Never to Seek CFTC Registration
CFTC FILES ENFORCEMENT ACTION AGAINST FOUR CSCE FLOOR BROKERS, CHARGING THEM WITH UNLAWFULLY TRADING COFFEE FUTURES; Joseph Defrancesco, Ronald Kilbride, and Brian Thornton Charged with Fraud, Bucketing of Customer Orders, and Reporting Non-Bona Fide Prices; Defrancesco, Kilbride, Thornton, and Marc Greenstein Also Face Charges of Noncompetitive Trading, Illegal Wash Sales, and Accommodation Trades
CALIFORNIA COMMODITY TRADER CHARGED WITH MISAPPROPRIATING MORE THAN $500,000 IN CUSTOMER FUNDS AND VIOLATING PRIOR COMMISSION ORDER; CFTC Charges Mark Ross Weinberg With Fraudulently Soliciting Funds to Trade Commodity Futures; Federal Court Freezes Assets and Bars Destruction of Books and Records
FLORIDA COMMODITY TRADER CHARGED WITH MISAPPROPRIATING AT LEAST $1 MILLION IN CUSTOMER FUNDS AND VIOLATING PRIOR FEDERAL COURT ORDER; CFTC Charges Thomas Chilcott, Ted Whidden, and Leona Westbrook With Fraudulently Operating Commodities Trading Business Known As Trade Master of Southwest Florida; Federal Court Freezes Assets and Bars Destruction of Books and Records