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Showing posts with the label CFTC | Enforcement Actions.

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.

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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,

CFTC | Enforcement Actions - March 27, 2014: CFTC Charges New York-Based SK Madison Commodities, LLC and its principals, Michael James Seward and Yan Kaziyev, with Commodity Pool Fraud and Other Violations

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CFTC Charges New York-Based SK Madison Commodities, LLC and its principals, Michael James Seward and Yan Kaziyev, with Commodity Pool Fraud and Other Violations 03/27/2014 09:21 AM EDT The U.S. Commodity Futures Trading Commission (CFTC) today announced that on March 24, 2014, Judge Sidney Stein of the U.S. District Court for the Southern District of New York (Manhattan) issued an emergency Order freezing and preserving the remaining pool participant assets under the control of Michael James Seward, Yan Kaziyev, and their company SK Madison Commodities, LLC, a Commodity Pool Operator based in New York City.

CFTC | Enforcement Actions - March 24, 2014: Patrick Cole of Ontario, Canada, and Global Strategic Marketing, Inc..

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Patrick Cole of Ontario, Canada, and Global Strategic Marketing, Inc. • Memorandum: Complete Developments, LLC et al. • Judgment Entry: Complete Developments, et al. • Order: Complete Developments, LLC, et al. • CFTC Press Release 6887-14  provides further details on this action.

CFTC | Enforcement Actions February 28, 2014: CFTC Charges Melody Nganthuy Phan of California and Her Companies, My Forex Planet, Inc., Wal Capital, S.A., and Top Global Capital, Inc., with Operating a Fraudulent $3.7 Million Off-Exchange Forex Scheme.

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RELEASE: PR6867-14 February 27, 2014 CFTC Charges Melody Nganthuy Phan of California and Her Companies, My Forex Planet, Inc., Wal Capital, S.A., and Top Global Capital, Inc., with Operating a Fraudulent $3.7 Million Off-Exchange Forex Scheme The CFTC also Charges Melody Nganthuy Phan with Fraud by an Unregistered Commodity Pool Operator Washington, DC  - The US Commodity Futures Trading Commission (CFTC) filed a civil enforcement action charging Defendants  Melody Nganthuy Phan  (Phan) of California and her companies,  My Forex Planet, Inc . (MFP),  Wal Capital, S.A.  (Wal Capital), and  Top Global Capital, Inc.  (TGC) with operating a fraudulent off-exchange foreign currency (forex) scheme. The CFTC Complaint also charges Phan with fraud by an unregistered commodity pool operator. The scheme allegedly fraudulently solicited at least $3,764,214 from over 174 customers and misappropriated customer funds in an effort to perpetuate the fraud. Specifically, the Comp

CFTC | Enforcement Actions February 20, 2014:Joshua W. Wallace and His Company, System Capital, LLC; ¡Finix Futures ,Inc; Abdul Sultan Walji and His Company, Arista LLC.

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The following enforcement action has been released: Joshua W. Wallace and His Company, System Capital, LLC • Initial Decision: System Capital,LLC, et al. •  CFTC Press Release 6861-14  provides further details on this action. iFinix Futures, Inc. • Notice of Intent: iFinix Futures, Inc. •  CFTC Press Release 6862-14  provides further details on this action. Abdul Sultan Walji and His Company, Arista LLC • Notice of Intent: Arista LLC and Abdul Sultan Walji •  CFTC Press Release 6863-14  provides further details on this action.

CFTC | Enforcement Actions February 20, 2014: CFTC Revokes Registrations of Oregon Resident Joshua W. Wallace and His Company, System Capital, LLC.

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The following enforcement action has been released: Joshua W. Wallace and His Company, System Capital, LLC CFTC Revokes Registrations of Oregon Resident Joshua W. Wallace and His Company, System Capital, LLC • Initial Decision: System Capital,LLC, et al. •  CFTC Press Release 6861-14  provides further details on this action.