Displaying results 301 - 310 of 880
CFTC Charges Trading Firm, CEO, and COO with $5 Million Forex Commodity Pool Scheme
...Washington, D.C. — The Commodity Futures Trading Commission today announced it filed a civil complaint in the U.S. District Court for the Eastern District of New York against Technical Trading Team, LLC (TTT), its Chief Executive Officer Edwin Carrion, formerly of Pinecrest, Florida, and its Chief Operating Officer and head trader Jason Rodriguez, of Bellerose, New York, charging them with…
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CFTC Charges Delaware Precious Metals Dealer, Depository, and Their Owner with Ongoing Fraud
...Washington, D.C. — The Commodity Futures Trading Commission today announced that it filed a civil enforcement action in the U.S. District Court for the District of Delaware against a precious metals dealer, Argent Asset Group LLC (Argent), and a precious metals depository, First State Depository Company, LLC (FSD), both of Wilmington, Delaware, and their owner, Robert Leroy Higgins (…
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Federal Court Orders Texas Energy Broker, Its Owners, and Affiliated Trading Firms to Pay Nearly $3 Million For Fraud, Trading Against Customers Without Consent and Failure to Supervise
… The order also states this activity constituted fraudulent misappropriation of the customers’ material nonpublic …
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Seeing Commodity Pools More Clearly
… pool fraud and misconduct generally occur in several forms: Misappropriation of Funds Fraudulent CPOs could …
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Federal Court Orders South African Company to Pay Over $1.7 Billion in Restitution for Forex Fraud
...Washington, D.C. — The Commodity Futures Trading Commission today announced Judge David A. Ezra of the U.S. District Court for the Western District of Texas entered a consent order against Mirror Trading International Proprietary Limited (MTI) on September 6, finding it liable for fraud in connection with retail foreign currency (forex) transactions, fraud by a commodity pool operator (CPO),…
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Statement of Commissioner Kristin N. Johnson Regarding CFTC Bringing Charges Against Damien Moran, Bright Future Financial LLC (d/b/a Oakhurst Metals), and Crown Bullion, Inc. for Precious Metals Fraud
...Today the Commodity Futures Trading Commission (CFTC) announced the filing of a complaint in the U.S. District Court for the Northern District of Texas charging Damien Moran and a series of companies he controlled, including Bright Future Financial LLC (d/b/a Oakhurst Metals) and Crown Bullion, Inc, with fraud.  According to the CFTC’s complaint, Moran used these companies to orchestrate…
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Federal Court Concludes Receivership in CFTC Ponzi Scheme Action Resulting in the Recovery of Over $1 Billion
...Washington, D.C. — The Commodity Futures Trading Commission today announced the successful conclusion of the receivership in CFTC v. Walsh, et al., a $1.3 billion Ponzi scheme case the CFTC filed in 2009. [See CFTC Press Release No. 5621-09]. On September 19, the U.S. District Court for the Southern District of New York approved the receiver’s final account and report, discharged the receiver…
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CFTC Obtains Final Judgment Against Michigan Commodity Pool Operator and His Company for a Fraudulent Forex Scheme
...Washington, D.C. — The Commodity Futures Trading Commission today announced that Judge Matthew F. Leitman of the U.S. District Court for the Eastern District of Michigan entered an order of default judgment and permanent injunction against Ali Bazzi and his company Welther Oaks, LLC, both of Dearborn, Michigan, for misappropriating funds, fraudulent solicitation, and issuing false account…
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CFTC Charges Mosaic Exchange Limited and Sean Michael with a Fraudulent Solicitation and Digital Asset Commodities Trading Scheme
...Washington, D.C. — The Commodity Futures Trading Commission today announced it filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against Mosaic Exchange Limited, a Pennsylvania limited liability company, and its owner and Chief Executive Officer Sean Michael, presently or formerly of Boca Raton, Florida, for running a fraudulent digital asset…
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Federal Court Orders Defendants to Pay More than $6.6 Million for Defrauding Binary Options Pool Participants
… filed on May 1, 2019 charging the defendants with fraud and misappropriation. [See CFTC Press Release No. 7923-19 ]   … million and Bos approximately $1.1 million.  To conceal the misappropriation, Caniff sent bogus trading results to Bos …
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