CFTC | Enforcement Actions - April 8, 2014:CFTC Orders California, Florida, and Nevada Companies and Their Owners to Pay More than $940,000 in Restitution to Defrauded Customers for Offering Illegal, Off-Exchange Precious Metals Transactions.

April 8, 2014 CFTC Orders California, Florida, and Nevada Companies and Their Owners to Pay More than $940,000 in Restitution to Defrauded Customers for Offering Illegal, Off-Exchange Precious Metals Transactions California Resident Charles Victoria and his Companies PGS Capital Wealth Management and PGS Capital Credit, Inc., and Florida Resident Frank O. Davies and his Company Rockwell Asset Management, Inc. Charged in Separate CFTC Orders Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) filed and settled charges against three companies and their owners (collectively, Respondents) for engaging in illegal, off-exchange precious metals transactions, and requires that the Respondents jointly pay more than $940,000 in restitution to their defrauded precious metals customers. In the first CFTC Order, the CFTC finds that, from January 2012 to February 2013, PGS Capital Wealth Management of Sherman Oaks, California, PGS Capital Credit, Inc. of Las Vegas,