June 16, 2015

Missouri Federal Court Orders Gregory Christopher Evans to Pay a Penalty of over $1.2 Million for Fraud and Unauthorized Swaps Trading

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that Senior Judge Ortrie D. Smith of the U.S. District Court for the Western District of Missouri entered a Consent Order against Defendant Gregory Christopher Evans imposing a civil monetary penalty of $1,213,578.94 and permanently banning Evans from registering with the CFTC and engaging in any commodity-related activity, including swaps trading. Evans is a resident of Kansas City, Missouri.

The Order resolves a CFTC enforcement action filed in September 2014, which charged Evans with fraud and unauthorized trading in swaps (see CFTC Press Release and Complaint 7011-14).

The Order finds that between May 23, 2013 and July 19, 2013, Evans, who was employed as a risk management consultant at a Futures Commission Merchant (FCM), engaged in fraud and unauthorized swaps trading. Specifically, the Order finds that Evans knowingly executed 30 unauthorized swap transactions on behalf of one of the FCM’s customers that resulted in approximately $1.2 million in trading losses to that customer. According to the Order, Evans engaged in these unauthorized swap transactions to conceal prior trading losses from his customers and the FCM.

CFTC Division of Enforcement staff members responsible for this action are Sophia Siddiqui, Dmitriy Vilenskiy, Jonah E. McCarthy, Stephen Barrows, John Einstman, Rachel Hayes, and Paul G. Hayeck. Kevin Piccoli, Thomas J. Bloom, Jan Ripplinger, and Lauren Fulks from the CFTC Division of Swap Dealer and Intermediary Oversight also assisted with this matter.

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Last Updated: June 16, 2015