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Showing posts with the label CFTC Enforcement Actions

CFTC | Enforcement Actions: Federal Court Enters Order Settling CFTC $85 Million Forex Fraud Action against California Resident Peter Son and his Companies SNC Asset Management, Inc. and SNC Investments, In

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RELEASE: pr6245-12 April 26, 2012 Federal Court Enters Order Settling CFTC $85 Million Forex Fraud Action against California Resident Peter Son and his Companies SNC Asset Management, Inc. and SNC Investments, Inc. Defendants ordered to pay $5 million civil monetary penalty Son pleaded guilty to federal charges in related criminal action and was sentenced to 180 months in prison and ordered to pay over $60 million in restitution Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court supplemental consent order requiring defendants Peter Son (Son) of Danville, Calif., and his companies, SNC Asset Management, Inc. , and SNC Investments, Inc. , to pay a $5 million civil monetary penalty. The court also ordered Son’s wife, relief defendant Ann Lee (Lee), to disgorge $300,000 of ill-gotten gains. T

CFTC Enforcement Actions: EagleEye Asset Management, LLC, d/b/a/ Jeffrey Liskov

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The following enforcement action has been released: EagleEye Asset Management, LLC, d/b/a/ Jeffrey Liskov Complaint: Jeffrey Liskov, et al. CFTC Press Release 6109-11 provides further details onthis action.

CFTC Enfrcement Actions: CFTC Charges North Carolinian Roy Scarboro, Jr. with Solicitation Fraud and Misappropriating Customer Funds in Forex Scheme

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The CFTC filed and simultaneously settled charges that Roy Scarboro, Jr. of Archdale, N.C., fraudulently solicited approximately $713,000 from customers to trade off-exchange foreign currency. CFTC Charges North Carolinian Roy Scarboro, Jr. with Solicitation Fraud and Misappropriating Customer Funds in Forex Scheme

CFTC Enforcement Actions: CFTC Obtains Final Judgment against Italian National Carmine Garofalo Charged with Illegal Trading

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  The CFTC announced that the U.S. District Court for the Northern District of Illinois entered a final default judgment against defendant Carmine Garofalo, an Italian national who purports to reside in Tunisia, requiring him pay $614,925 in restitution and a $1,844,775 civil monetary penalty. CFTC Obtains Final Judgment against Italian National Carmine Garofalo Charged with Illegal Trading

CFTC Enforcement Ations Update: Otmane El Rhazi / Queen Shoals Consultant

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The following enforcement action has been released: Otmane El Rhazi Order: Otmane El Rhazi CFTC Press Release 6089-11 provides further details on this action. Queen Shoals Consultant Order: Queen Shoals Consultant CFTC Press Release 6090-11 provides further details on this action.

CFTC Enforcement Actions Update: Anthony J. Klatch II, et al.

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The following enforcement action has been released: Anthony J. Klatch II, et al. Order: Anthony J. Klatch II, et al. Complaint: Anthony J. Klatch II, et al. CFTC Press Release 6088-11 provides further details on this action.

CFTC Enforcement Actions Update: Mark E. Rice, d/b/a/ Financial Robotics, Inc.

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  The following enforcement action has been released: Mark E. Rice, d/b/a/ Financial Robotics, Inc. Complaint: CFTC v. Financial Robotics, Inc, et al. Order: CFTC v. Financial Robotics, Inc, et al. CFTC Press Release 6067-11 provides further details on this action.

CFTC Enforcement Actions: Order: CFTC v. Marat Yunusov

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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. Cooperation Factors in Enforcement Division Sanction Recommendations (originally published 2004; revised March 1, 2007, see CFTC Press Release 5296-07 ) View By Year: 2011 // 2010 // 2009 // 2008 // 2007 // 2006 // Enforcement Actions Archive Date Enforcement Actions 05/09/2011 Federal Court Orders Russian National Marat Yunusov to Pay $500,000 Civ

CFTC Enforcement Actions: Press Release:: CFTC CHARGES Florida Precious Metals Company Kastle & Hawke, Inc. and its Principals, James A. Ward and Nathaniel R. Walker, with Fraud

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 RELEASE: pr6014-11 March 30, 2011 Defendants allegedly misappropriated at least $319,000 of customer funds for personal expenses and purchases. Federal court issues order freezing defendants’ assets and preserving books and records. Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today charged precious metals firm Kastle & Hawke, Inc. of Ft. Lauderdale, Fla., and its principals, James A. Ward, also of Ft. Lauderdale, and Nathaniel R. Walker of Lauderhill, Fla., with fraud in connection with purchasing, selling or delivering gold, silver, platinum and palladium to customers on a leveraged basis. The CFTC’s lawsuit also alleges that the defendants violated the Commodity Exchange Act’s prohibition against selling palladium on a leveraged basis. Kastle & Hawk has never been registered with the CFTC in any capacity. On March 30, 2011, the same day the complaint was filed, Judge James I. Cohn, of the U.S. District Court for the Southern

Enforcement Action: David L. Ortiz, d/b/a Goyep International, Inc. and Royal Returns, Inc.

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The following enforcement action has been released: David L. Ortiz, d/b/a Goyep International, Inc. and Royal Returns, Inc. Complaint: David L. Ortiz Order: David L. Ortiz, et al. CFTC Press Release 5992-11 provides further details on this action.

CFTC: Enforcement Actions

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The following enforcement action has been released: Randall Lynn Stuckey, et al.   Order: Randall Lynn Stuckey, et al. Complaint: Randall Lynn Stuckey, et al.  CFTC Press Release 5990-11 provides further details on this action.

CFTC Sues 14 Foreign Currency Firms in Nationwide Sweep |

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FINANCIAL & FOREX INFO NEWS CFTC Sues 14 Foreign Currency Firms in Nationwide Sweep   Wed, 26 Jan 2011 14:15:00 -0600 The CFTC simultaneously filed 13 enforcement actions in Federal District Courts in Chicago, the District of Columbia, Kansas City and New York, alleging that 14 entities are illegally soliciting members of the public to engage in foreign currency (forex) transactions and that they are operating without being registered with the CFTC.