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2004 Enforcement Actions

 

  • CALIFORNIA RESIDENTS PAULINO RENE DIAS, JR. AND VICTOR SMITH, ALONG WITH KRUTE CORPORATION, AGREE TO PAY $2.19 MILLION TO SETTLE COMMODITY POOL FRAUD ACTION; CFTC Imposes $240,000 in Civil Penalties Orders Customer Restitution of $1.95 Million, 5033-04, December 27, 2004   Order
  • FLORIDA FEDERAL COURT ORDER ENJOINS TWO FLORIDA BUSINESSES AND FOUR EMPLOYEES FROM VIOLATING FEDERAL COMMODITIES LAW; CFTC Charged Defendants Liberty Financial Trading Corp.; Liberty Real Assets Investment Corp.; Ted Romeo; Leslie Weiner; Nader Yazdani; and Randy Bursteinwith with Fraudulently Soliciting Customers to Trade Options on Futures Contracts, 5032-04, December 27, 2004   Complaint   Order
  • CFTC CHARGES A NEBRASKA BANK, ITS BANK HOLDING COMPANY, AND AN INTRODUCING BROKER WITH FRAUD AND UNAUTHORIZED TRADING; CFTC Names Sherman County Management, Inc., Sherman County Bank, and PT Holdings as Additional Defendants in an Ongoing Case Alleging Commodity Fraud and Unauthorized Trading, 5030-04, December 8, 2004  Amended Complaint
  • U.S. DISTRICT COURT ORDERS UNITED KINGDOM CORPORATION (E NET SPECULATION LTD.) AND ITS TWO PRINCIPALS TO PAY $50,000 IN CIVIL PENALTIES FOR INTERNATIONAL SOLICITATION OF OFF-EXCHANGE COMMODITY FUTURES THROUGH THE WORLD WIDE WEB, 5029-04, December 7, 2004   Order
  • MIRANT AMERICAS ENERGY MARKETING, L.P. SETTLES FEDERAL CHARGES OF FALSE REPORTING AND ATTEMPTED MANIPULATION; CFTC Imposes Civil Penalty of $12.5 Million and Orders Energy Firm to Cease and Desist from Further Violations; Respondent Found to Have Knowingly Made False Reports to Gas Daily, Inside FERC and Natural Gas Intelligence, 5025-04, December 6, 2004   Order
  • FEDERAL COURT ORDERS NORTH CAROLINA RESIDENT JAMES DARREN MOORE AND HIS COMPANY TO PAY OVER $1 MILLION IN RESTITUTION AND PENALTIES FOR DEFRAUDING CUSTOMERS IN A COMMODITY SCHEME; 5024-04, December 2, 2004   Order
  • U.S. COMMODITY FUTURES TRADING COMMISSION CHARGES GREENSBORO, NORTH CAROLINA RESIDENT ROGER OWEN AND HIS COMPANIES CHARGED WITH DEFRAUDING CUSTOMERS IN SALES OF A COMMODITY TRADING SYSTEM; 5023-04, December 2, 2004   Complaint
  • NEW YORK HEDGE FUND CHARGED WITH MISAPPROPRIATING MORE THAN $1.1 MILLION IN COMMODITY SCAM; CFTC Sues Remco Capital Management, Inc., Nutone Asset Management, Ltd., and Andrei Maruha, Alleging They Defrauded at Least 31 Investors, 5021-04, November 17, 2004   Complaint   Order
  • CINERGY MARKETING & TRADING, LP FOUND TO HAVE REPORTED FALSE ENERGY PRICES; Agrees to Pay a $3 Million Civil Monetary Penalty to Settle CFTC Charges, 5020-04, November 16, 2004  Order
  • CFTC and BP Energy Company Settle Case Involving Employee's Illegal Wash Trades for $100,000, 5018-04, November 4, 2004  Order
  • HAWAIIAN RESIDENT BARRY SCHOTZ CHARGED WITH DEFRAUDING CALIFORNIA PARTICIPANTS IN $3 MILLION COMMODITY POOL SCHEME; Schotz, Previously Convicted of Fraud, Allegedly Bilked Los Angeles Investors in the Bear Invest Fund, 5017-04, November 2, 2004   Complaint   Order
  • CFTC CHARGES SAN DIEGO FOREIGN CURRENCY FIRM WHITE PINE TRUST CORPORATION AND ITS FOUNDER, RICHARD MATTHEWS, WITH FRAUD AND MISAPPROPRIATION OF CUSTOMER FUNDS; Over $30 Million in Suspect Funds Uncovered in Federal Probe, 5016-04, November 2, 2004   Complaint   Memorandum of Law   Order
  • CFTC Settles Fraud Charges Against John Hucko of Chicago, Illinois, 5015-04, October 26, 2004  Order
  • FEDERAL COURT ORDERS ALABAMA RESIDENT RANDALL NELSON TO PAY OVER $800,000 TO SETTLE COMMODITY POOL FRAUD CHARGES; In Joint Federal/State Action, Court Orders Nelson to Repay a Total of $680,000 to Investors and to Pay Civil Penalties Totaling $125,000, 5012-04, October 18, 2004   Complaint   Order
  • LOS ANGELES FEDERAL COURT ISSUES PRELIMINARY ORDER ENJOINING CHASE COMMODITIES CORPORATION AND TWO EMPLOYEES FROM VIOLATING THE COMMODITY EXCHANGE ACT, 5011-04, October 18, 2004   Order (Preliminary Injunction)
  • CFTC SETTLES FOREIGN CURRENCY (FOREX) FUTURES FRAUD ACTION; Kissimmee, Florida Resident Stanley Craig Wakefield Agrees to Repay Customers and Pay a Civil Monetary Penalty, 5010-04, October 18, 2004   Order (Permanent Injunction)
  • CFTC CHARGES CALIFORNIA MAN AND HIS COMPANY WITH DEFRAUDING CUSTOMERS; James J. Zhou and Jade Trader Allegedly Fraudulently Solicited Customers to Trade Commodity Futures Contracts, 5008-04, October 13, 2004  Order
  • CFTC CHARGES ILLINOIS-BASED COMMODITY TRADING ADVISOR AND ITS PRINCIPALS WITH MISREPRESENTING PROFITS AND RISKS; The Options Advisor L.L.C. and Principals Mark Melin and David Farrra Charged, 5006-04, October 12, 2004  Order
  • CFTC CHARGES FOREIGN FUND FOR DEFRAUDING THOUSANDS OF CUSTOMERS IN INTERNATIONAL PONZI SCHEME; Foreign Fund, Ron Mealing and John Shirck Allegedly Operated Commodity Futures Fraud Involving Foreign Currency Trading, 5005-04, October 12, 2004   Complaint   Order
  • LOS ANGELES-AREA FOREIGN CURRENCY FIRM EMERALD WORLDWIDE HOLDINGS, INC., AND ITS PRESIDENT, JIAN ZHUANG, SANCTIONED BY COURT FOR FAILING TO COMPLY WITH CONTEMPT ORDER IN FEDERAL LAWSUIT CONCERNING INTERNATIONAL CURRENCY SCAM THAT ALLEGEDLY DEFRAUDED 300 CUSTOMERS OF OVER $5 MILLION; Court Orders Coercive Sanctions, Including Fines, And Warns Of Possible Arrest of Zhuang For Failure To Pay, 5003-04, October 4, 2004
    Amended Complaint
    Amended Complaint (Japanese Version)
    SRO #1
    SRO #2
    Contempt Order
    Order Imposing Sanctions
  • CFTC SETTLES CHARGES AGAINST THREE UK-BASED TRADING FIRMS FOR PARTICIPATING IN ILLEGAL WASH TRADES ON U.S. MARKETS; Fimat International Banque SA, Refco Overseas Ltd. and Credit Lyonnais Rouse Limited Ordered to Pay Total of $75,000 in Civil Penalties, 5002-04, October 4, 2004
    Credit Lyonnais Order (CFTC Docket #04-25)
    Fimat International Order (CFTC Docket # 04-26)
    Refco Overseas Limited Order (CFTC Docket # 04-27)
  • CFTC CHARGES NEW YORK FIRM FIRST LIBERTY GROUP AND ITS PRESIDENT, MAURICIO DA SILVA, WITH STEALING MILLIONS IN FOREIGN CURRENCY SCAM; U.S. District Court Judge Freezes Defendants' Assets and Prohibits Defendants from Destroying Documents, 5001-04, October 4, 2004 Complaint  Order
  • CFTC FILES ACTION AGAINST G. VICTOR JOHNSON AND THE ACCOUNTING FIRM OF ALTSCHULER, MELVOIN & GLASSER LLP FOR ALLEGED AUDITING FAILURES, 5000-04, September 30, 2004   Complaint
  • COURT ORDERS ILLINOIS BROKER JOHN M. LOFGREN AND MELROSE ASSET MANAGEMENT TO PAY OVER $5.5 MILLION TO DEFRAUDED COMMODITY POOL PARTICIPANTS, 4999-04, September 30, 2004
    Order (Injunctive) – Lofgren & Melrose
    Lofgren CFTC Order (# 04-09)
    Lofgren CFTC Notice (#04-09)
    Melrose CFTC Order (#04-10)
    Melrose CFTC Notice (#04-10)
  • CFTC CHARGES FLORIDA BUSINESSES AND EMPLOYEES WITH FRAUD; CFTC Alleges that Wilshire Investment Management Corporation, Owner Andrew Alan Wilshire, Employees Eric Scott Malcolmson and James Joseph Russo, and Guarantor National Commodities Corporation, Inc. Fraudulently Solicited Customers to Trade Option Contracts, 4997-04, September 28, 2004   Complaint
  • CFTC AWARDED FINAL JUDGMENT IN FRAUD ACTION AGAINST WORLD BANKS FOREIGN CURRENCY TRADERS, INC. AND OTHERS; Defendants Ordered to Pay Over $8 Million in Restitution and Civil Penalties, 4996-04, September 27, 2004   Order
  • CFTC CHARGES THREE ADDITIONAL DEFENDANTS IN PENDING TENNESSEE FRAUD ACTION; Amended Complaint Alleges that Gordon J. Vandeveld, Ernst H. Behr, and Reverie LLC Made Fraudulent Misrepresentations When Soliciting Customers to Purchase Foreign Currency Futures, 4993-04, September 20, 2004   Amended Complaint
  • U.S. COMMODITY FUTURES TRADING COMMISSION ACTION FINDS FORMER BAYSIDE, NEW YORK MAN FAILED TO REGISTER AS COMMODITY TRADING ADVISOR, 4992-04, September 17, 2004  Order
  • OFFICE MANAGER OF LOS ANGELES FOREIGN CURRENCY FIRM AGREES TO COOPERATE WITH GOVERNMENT AND SETTLES CHARGES OF SELLING ILLEGAL OFF-EXCHANGE FOREIGN CURRENCY FUTURES CONTRACTS, 4991-04, September 17, 2004  Order
  • LIBERTY FINANCIAL TRADING CORPORATION., INC.  Complaint
  • COURT ENTERS DEFAULT JUDGMENT AGAINST NEW YORK FOREIGN CURRENCY FIRM AND OTHERS, ORDERING DEFENDANTS TO PAY OVER $30 MILLION IN PENALTIES AND $10 MILLION IN RESTITUTION TO CUSTOMERS: Judgment Entered In International Scam Against Defendants Eduard Dmanskiy and Sun Platinum and Relief Defendants Ocaline Int'l Corp., Hessar Alliance Inc., Klondike Int'l Inc., Pyrmont Alliance Corp., and Total Trading Services Ltd. Stemming From CFTC Charges That They Fraudulently Misappropriated Customer Funds And Traded Illegal, Off-Exchange Futures Contracts, 4990-04, September 16, 2004  Order
  • CFTC CHARGES UTAH FIRM, THREE OF ITS OFFICERS, AND A UTAH ATTORNEY WITH FRAUD; Vision Capital Corporation, Officers John Garrett, Allen Andersen, Robert Heninger, and Utah Attorney John Thomas Charged With Commodity Pool Fraud, 4989-04, September 16, 2004   Complaint
  • CFTC FILES $2.4 MILLION ENFORCEMENT ACTION AGAINST CHICAGO RESIDENT EDWARD VELAZQUEZ AND HIS HEDGE FUND, 4988-04, September 16, 2004   Complaint   Order
  • FEDERAL COURT ORDERS PORTLAND RESIDENTS TO PAY MORE THAN $1.3 MILLION TO SETTLE FOREIGN CURRENCY FUTURES AND OPTIONS FRAUD CHARGES; Court Orders Nancy Hoyt, April Duffy, and Samantha Vorachith to Repay a Total of $596,337 to Investors and to Pay Contingent Civil Penalties Totaling $720,000, 4986-04, September 13, 2004   Order – Hoyt   Order – Duffy   Order – Vorachith
  • CFTC REVOKES REGISTRATION OF ILLINOIS FLOOR BROKER STUART MICHAEL HELFFRICH; CFTC Action Based in Part on Fraud Findings by Chicago Board of Trade, 4985-04, September 3, 2004   Notice of Intent  Order
  • CFTC FILES $10 MILLION ENFORCEMENT ACTION AGAINST WINNETKA, ILLINOIS HEDGE FUND TRADEWINDS INTERNATIONAL, LLC, AND ITS PRINCIPAL, CHARLES HARRIS, 4984-04, September 2, 2004  Complaint  Order
  • CFTC FINDS THAT NYMEX FLOOR BROKER, IZMIR MEHMEDOVIC OF GLENDALE, NEW YORK, DEFRAUDED CUSTOMER, 4980-04, August 26, 2004  Order
  • U.S. DISTRICT COURT GRANTS SUMMARY JUDGMENT TO CFTC IN FRAUD ACTION AGAINST FLORIDA RESIDENTS; Genady Spivack A.K.A. George Spivak, Ellison Kent Morris, AND World-Wide Currency Services, Corp.; defendants Ordered to Pay Over One Million Dollars in Restitution and Are Permanently Banned from Commodity Related Trading or Solicitation, 4979-04, August 19, 2004   Order
  • COURT FINDS THAT FLORIDA RESIDENT AND TWO COMPANIES DEFRAUDED CUSTOMERS IN FOREIGN CURRENCY OPTIONS SCAM; Michael Dippolito, MAD Financial, Inc., and CTU, Inc. Agree to Pay Civil Penalty for Defrauding Investors, 4978-04, August 18, 2004   Consent Order
  • CFTC CHARGES TEXAS-BASED COMMODITY TRADING ADVISOR NEXGEN SOFTWARE SYSTEMS, INC., AND OWNER JOHN P. NOVAK WITH COMMODITIES FRAUD; Defendants Allegedly Solicited Customers to Purchase their Advisory Services Using False Claims; Nexgen and Novak also Failed to Register as Commodity Trading Advisors, 4977-04, August 18, 2004   Complaint
  • FEDERAL COURT ENJOINS VISALIA, CALIFORNIA COMMODITIES TRADER AND HIS COMPANY FROM VIOLATING THE COMMODITY EXCHANGE ACT; Consent Order of Permanent Injunction Entered Against Donald Steven Smith and His Company, Fibit.com, 4976-04, August 17, 2004   Order
  • MESA, ARIZONA PONZI SCHEME OPERATOR, RONALD STEPHEN HOLT, HELD IN CIVIL CONTEMPT FOR REFUSING TO REVEAL LOCATION OF VICTIMS' FUNDS; Court Orders Holt Jailed After 'Show Cause' Hearing; Action Stems from CFTC Antifraud Charges Brought Against Holt in September 2003, 4975-04, August 17, 2004   Order
  • ILLINOIS DISTRICT COURT JUDGE ORDERS CHICAGO BROKER KEITH W. KRYSINSKI TO PAY MORE THAN $400,000 IN CFTC ANTI-FRAUD CASE, while banning the Defendant from the Futures Industry For At least five year, 4974-04, August 17, 2004   Order
  • CALIFORNIA FIRM CHASE COMMODITIES CORP. & TWO INDIVIDUALS CHARGED WITH DEFRAUDING CUSTOMERS; Firm and Traders Lee Lagorio and Excel Obando Allegedly Made False Claims that Customers Would Make Large Profits with Little Risk, 4973-04, August 17, 2004  Complaint
  • ENFORCEMENT ACTION FILED AGAINST FORMER CEO OF RITTMEISTER CAPITAL MANAGEMENT, INC.; Pending Federal Criminal Charges Against Udo Rotmistrenko Alleged As Grounds for Suspending CFTC Registrations, 4972-04, August 17, 2004  Notice of Intent
  • CFTC CHARGES FLORIDA COMPANY WORLDWIDE COMMODITY CORPORATION AND FOUR INDIVIDUALS WITH DEFRAUDING CUSTOMERS; Firm And Certain Traders Allegedly Made False Claims That Accounts Would Make Large Profits With Little Risk Due To Seasonal Events, 4971-04, August 13, 2004   Complaint  Notice
  • FORMER TRADER AGREES TO COOPERATE WITH U.S. COMMODITY FUTURES TRADING COMMISSION AND SETTLES CASE FOR ILLEGAL WASH TRADES, 4967-04, August 11, 2004  Order
  • CORAL ENERGY PAYS $30 MILLION TO SETTLE U.S. COMMODITY FUTURES TRADING COMMISSION CHARGES OF ATTEMPTED MANIPULATION AD FALSE REPORTING, 4964-04, July 29, 2004   Order
  • CLEVELAND COMMODITIES FIRM, ITS PRESIDENT AND TWO FORMER EMPLOYEES CHARGED WITH FRAUD; Carnegie Trading Group Ltd., Inc. Allegedly Used Fraudulent Statements to Solicit Customers to Trade Commodity Futures and Options, 4966-04, August 9, 2004   Complaint
  • U.S. COMMODITY FUTURES TRADING COMMISSION CHARGES TRADING SYSTEM DEVELOPER AND PROMOTER AND THEIR PRINCIPALS WITH COMMODITY FRAUD; TradeWins Publishing Corporation and Its President, Stephen A. Schmidt, Allegedly Solicited Customers to Purchase a Trading System Using False Claims; System Developer and His Company Also Charged, 4962-04, July 21, 2004  Complaint
  • U.S. COMMODITY FUTURES TRADING COMMISSION SETTLES CHARGES AGAINST FIVE INDIVIDUALS FOR TAKING PART IN ARTIFICIAL TRADING SCHEME; CFTC Order Finds That Illinois Residents Daniel J. Collins, Thomas M. Gianos, Bernard Miraglia and John R. Wade, and Wisconsin Resident Edward M. Collins Participated in Illegal Transfer Trades During the 1980s, 4961-04, July 20, 2004  Collins Order
  • NATURAL GAS TRADER HUNTER SHIVELY AGREES TO COOPERATE WITH U.S. COMMODITY FUTURES TRADING COMMISSION IN SETTLING MANIPULATION CASE, 4960-04, July 19, 2004  Order - Consent Order  Complaint - Enron
  • ENRON SETTLES CFTC COMPLAINT CHARGING IT WITH MANIPULATING NATURAL GAS PRICES IN JULY 2001; Federal District Court Enters Consent Order of Permanent Injunction Against Enron, 4959-04, July 19, 2004  Order - Consent Order  Complaint - Enron
  • COMMODITY FUTURES TRADER ORDERED TO PAY MORE THAN $1 MILLION TO DEFRAUDED CUSTOMERS; Federal Court Bans Utah Man, Stanley E. Varner from Trading Commodities for Five Years and Imposes $575,000 Civil Penalty, 4958-04, July 15, 2004,  Order of Permanent Injunction
  • CFTC FILES ENFORCEMENT ACTION AGAINST FORMER CEO OF ANICOM, INC.; Pending Federal Criminal Charges Against Scott C. Anixter Alleged As Grounds for Suspending His CFTC Floor Trader Registration, 4957-04, July 15, 2004  Notice of Intent
  • FEDERAL COURT ORDERS FLORIDA RESIDENTS TO PAY MORE THAN $22 MILLION IN CFTC FOREIGN CURRENCY (FOREX) FUTURES FRAUD ACTION; Court Orders Defendant Donald O'Neill and His Companies to Repay Over $12 Million to Investors and Pay Civil Monetary Penalties Totaling $10.6 Million, 4956-04, July 14, 2004   Supplemental Order   Order of Permanent Injunction
  • CFTC SETTLES CHARGES AGAINST THREE FORMER AGENTS OF CONVICTED FELON JOHN WHEELER; Defendants Michael Fagan, Robert Mendoza, and Gary Wood Agree to Turn Over Money They Received from Wheeler as Commissions, 4955-04, July 14, 2004   Order - Fagan   Order - Mendoza/Wood   Order - Cole
  • CFTC SETTLES RECORDKEEPING CHARGES AGAINST UNITED ENERGY, INC. AND DANA CHRISTOPHER BRAY RELATING TO TRADING IN NATURAL GAS FUTURES; United Energy, Inc. Also Settles Charges of Failure to Supervise Bray, 4953-04, July 14, 2004   Order
  • CFTC ORDERS PONZI SCHEME PARTICIPANTS WILLIAM ROGERS, MARIA TOCZYLOWSKI, AND HAROLD LUDWIG TO PAY MILLIONS; Two Former Officers of Republic New York Securities Corp. and Former Director of Princeton Global Management, Ltd., Ordered to Pay Over $14 Million in Restitution and Penalties , 4952-04, July 13, 2004   Ludwig Order  Rogers Tocylowski Order
  • CFTC IMPOSES $7 MILLION CIVIL PENALTY ON DENVER-BASED ENERGY FIRM; Western Gas Resources, Inc. Charged With False Reporting and Attempted Manipulation in Violation of the Commodity Exchange Act, 4948-04, July 1, 2004   Order
  • CFTC SUES MINNEAPOLIS-BASED NRG ENERGY, INC., CHARGING NRG WITH FALSELY REPORTING NATURAL GAS TRADES, 4947-04, July 1, 2004   Complaint
  • FRAUD CHARGES BROUGHT AGAINST FLORIDA FOREIGN CURRENCY FIRMS AND EMPLOYEES; CFTC Alleges that Sterling Trading Group, Inc., Universal FX, Inc., and Employees Joseph Arsenault and Andrew Stern Defrauded Customers and Defendant Graystone Browne Financial, Inc. Charged with Offering Illegal Option Contracts, 4946-04, June 29, 2004  Complaint   Order
  • FLORIDA BUSINESSES AND EMPLOYEES CHARGED WITH FRAUD; CFTC Alleges that Next Financial Services Unlimited, Inc., New World Trading, LLC, and Employees Aaron Ettinger and Robert LaRocca Fraudulently Solicited Customers to Trade Illegal, Off-Exchange Foreign Currency Option Contracts; Federal Court Enters Order Freezing Defendants' Assets, 4945-04, June 29, 2004  Complaint   Order
  • SOUTH FLORIDA FOREIGN EXCHANGE TRADING FIRMS CHARGED WITH DEFRAUDING CUSTOMERS, COURT FREEZES DEFENDANTS' ASSETS; Worldwide Forex, Inc., Global Atlantic Management, Inc., and A Principal Allegedly Told Customers that the Possibility of War with Iraq Would Result in Significant Profits, 4944-04, June 29, 2004  Complaint   Order
  • CFTC CHARGES FLORIDA OPTIONS FIRM FIRST AMERICAN INVESTMENT SERVICES, INC., WITH DEFRAUDING CUSTOMERS OF OVER $12 MILLION; First American President Steve Knowles and Employees Michael Savitsky, Adam Mills, Greg Allotta, and James Eulo Allegedly Lied When Pitching Commodity Options to Customers, 4943-04, June 21, 2004  Complaint   Order
  • CALIFORNIA RESIDENTS ORDERED TO PAY MORE THAN $800,000 IN COMMODITY FRAUD ACTION; Defendants Paris DeLesseppes and John E. Lassen Ordered to Repay Over $333,000 to Investors and Pay Civil Monetary Penalties Totaling $480,000, 4941-04, June 15, 2004  DeLesseppes Order   Lassen Order
  • FEDERAL COURT ORDERS SOUTHERN CALIFORNIA FOREIGN CURRENCY SALESMEN TO REPAY CUSTOMERS MORE THAN $870,000, 4940-04, June 15, 2004   Order
  • CFTC CHARGES SANTA MONICA, CALIFORNIA, BUSINESSMAN & WEBSITE OPERATOR JAMES WEATHERFORD WITH FRAUD IN SOLICITING CUSTOMERS TO TRADE S&P 500 E-MINI FUTURES CONTRACTS, 4939-04, June 14, 2004  Complaint
  • CFTC CHARGES PANAMANIAN CORPORATION WITH SALE OF ILLEGAL OFF-EXCHANGE FOREIGN CURRENCY FUTURES CONTRACTS TO CUSTOMERS; CFTC Alleges that Axess Trade Co., Inc. Illegally Solicits Customers Through the Internet to Trade Foreign Currency Futures Contracts , 4938-04, June 14, 2004   Complaint   Restraining Order
  • FEDERAL COURT ORDERS INTERNATIONAL FINANCIAL SERVICES AND OTHERS TO PAY MORE THAN $100 MILLION IN RESTITUTION AND PENALTIES IN FOREIGN CURRENCY FUTURES FRAUD ACTION; Federal Court Finds All Defendants Liable for Fraud and Illegal Sale of Foreign Currency Futures Contracts, 4937-04, June 14, 2004   Final Judgment   Opinion and Order
  • CFTC FINDS THAT FLORIDA FIRM FIRST INVESTORS GROUP OF THE PALM BEACHES, INC. AND ITS EMPLOYEES COMMITTED FRAUD IN SOLICITING CUSTOMERS; Respondents William Scott Cordo and Mitchell Stephen Davis Ordered to pay $600,000 in Civil Penalties, 4932-04, May 27, 2004   Order
  • COURT ENTERS DEFAULT JUDGMENT AGAINST FLORIDA FOREIGN CURRENCY FIRM AND ITS OFFICERS GRANTING OVER $350,000 IN RESTITUTION TO CUSTOMERS IN 2003 CFTC ENFORCEMENT ACTION; Judgment Entered Against Defendants Bibas Levy Corp., Zacarias Bibas, and Hassan Sharam Stemming From CFTC Charges That They Made False Profit Claims and Misrepresented their Performance Record and the Risks of Foreign Currency Futures Trading, 4930-04, May 21, 2004  Final Default Judgment
  • JAPANESE FIRM CHARGED WITH PARTICIPATING IN FOREIGN CURRENCY SCAM THAT DEFRAUDED MORE THAN 300 CUSTOMERS OF OVER $5 MILLION; U.S. Commodity Futures Trading Commission Also Names Four Relief Defendants Who Received Ill-Gotten Gains, 4929-04, May 21, 2004  Amended Complaint  Amended Complaint - Japanese Version
  • CFTC Fines Swiss Company Barry Callebaut Sourcing AG for Executing Illegal Wash Trades on U.S. Markets, 4927-04, May 13, 2004  Order
  • CFTC SETTLES CASE WITH FORMER ELECTRICITY TRADER FOR EXECUTING ILLEGAL WASH TRADES; Trader Agrees to Cooperate, 4925-04, May 10, 2004   Order  Related Order
  • CFTC CHARGES COMMERCIAL HEDGE SERVICES, PRIME TRADING COMPANY, AND LAWRENCE JOSEPH VOLF -- ALL OF NEBRASKA -- WITH FRAUD; Introducing Broker and his Company Allegedly Made Unauthorized, Speculative Trades in Commodity Hedge Accounts that Caused Farmers $5 Million in Losses, 4924-04, May 5, 2004   Complaint  Order 
  • CFTC CHARGES MARYLAND MAN AND HIS COMPANY WITH DEFRAUDING CUSTOMERS IN FOREX SCAM; Arthur John Keeffe, II and Calvary Currencies LLC Allegedly Fraudulently Solicited Over $400,000 from Investors to Trade Illegal, Off-Exchange Foreign Currency Futures Contracts, 4921-04, May 3, 2004  Complaint
  • CFTC CHARGES UNITED KINGDOM CORPORATION AND ITS TWO PRINCIPALS WITH SALE OF ILLEGAL OFF-EXCHANGE FUTURES CONTRACTS TO U.S. INVESTORS; CFTC Alleges that E Net Speculation Ltd., Patrice Cornaz, and Athos Socratous Illegally Solicit U.S. Investors Via the Internet to Trade Commodity Futures Contracts through a Foreign Website, 4918-04, April 22, 2004   Complaint  Preliminary Injunction Order
  • CFTC FILES AND SETTLES REGISTRATION CLAIM AGAINST JEFFREY ALLEN OF HOUSTON, TEXAS; CFTC Order Finds that Allen Failed to Register as a Commodity Trading Advisor, 4917-04, April 20, 2004   Order
  • NEW YORK FOREIGN CURRENCY (FOREX) FIRM CHARGED WITH STEALING MORE THAN $2.2 MILLION IN COMMODITY SCAM; CFTC Sues Lexington Royce & Associates and Artour Arakelian, Alleging They Defrauded More Than 50 Customers, 4916-04, April 15, 2004 Complaint  Restraining Order
  • CFTC FINDS THAT COLORADO TRADING ADVISOR USED WEBSITE TO MISLEAD PUBLIC ABOUT PROFITABILITY OF COMMODITY FUTURES TRADING SYSTEMS AND SERVICES; Respondents Roy M. Sidewitz and Qi2 Technologies, Inc. Settle Charges That They Made False Claims About Commodity Futures Products and Services, 4915-04, April 15, 2004  Order
  • CFTC Fines Singapore Company for Executing Illegal Wash Trades on U.S. Markets, 4914-04, April 15, 2004  Order
  • CFTC AND STATE OF MARYLAND CHARGE MARYLAND RESIDENT ANDREW SILBERSTEIN WITH STEALING INVESTOR FUNDS IN COMMODITY FUTURES SCAM; Federal Court Enters Order Freezing Silberstein's Assets, April 12, 2004   Complaint  Statutory Restraining Order  Preliminary Injunction Order
  • FEDERAL COURT FINDS THAT CALIFORNIAN DEFRAUDED COMMODITY FUTURES CUSTOMERS USING FALSE CLAIMS OF PAST TRADING SUCCESS; Defendant Oscar Goldman of Redondo Beach, California, Permanently Prohibited from Trading and Ordered to Pay Monetary Penalty, April 8, 2004   Order
  • CFTC CHARGES EQUITY FINANCIAL GROUP LLC, A NEW JERSEY COMPANY, AND OTHERS WITH FRAUDULENTLY SOLICITING MORE THAN $5.7 MILLION FROM INVESTORS IN THE SHASTA CAPITAL ASSOCIATES, LLC HEDGE FUND; Shasta Recently Hailed as "Hedge Fund of the Week," 4908-04, April 6, 2004   Complaint   Order  
  • CFTC Revokes Registration of Illinois Floor Broker, Donald R. Van Patten, 4907-04, April 1, 2004  Order  Notice of Intent
  • PORTLAND MAN JAILED BY FEDERAL COURT FOR CONTEMPT FOR VIOLATION OF ORDER PREVENTING DISSIPATION OF CUSTOMER FUNDS IN FOREIGN CURRENCY (FOREX) FRAUD CASE, 4906-04, March 24, 2004   Opinion  
  • ST. LOUIS RESIDENT KENNETH LEE AND HIS COMPANY ORDERED TO PAY MORE THAN $567,000 TO DEFRAUDED COMMODITY CUSTOMERS; Court Permanently Bans Defendants From Trading, 4905-04, March 24, 2004   Order  
  • CFTC BRINGS FRAUD ACTION AGAINST TENNESSEE FOREIGN CURRENCY (FOREX) FIRM AND CERTAIN EMPLOYEES; FxTrade Financial, LLC, Jeffrey A. Mischler, Lee N. Romano II, and Mary Jo Sibbitt Are Charged with Fraud when Soliciting Customers, 4904-04, March 23, 2004   Complaint   Order  
  • FEDERAL COURT REFUSES TO DISMISS NATURAL GAS MANIPULATION CASE AGAINST FORMER ENRON VICE PRESIDENT; CFTC Previously Charged Hunter Shively With Manipulating Prices in Natural Gas Market, 4899-04, March 11, 2004   Order
  • FEDERAL COURT ENTERS INTERIM ORDER BARRING LOS ANGELES-BASED FIRM, PROFIT PARTNERS, INC., FROM DEFRAUDING CUSTOMERS IN SELLING COMMODITY FUTURES AND OPTIONS TRADING SYSTEMS; CFTC Complaint Charges Profit Partners with Fraud, 4898-04, March 11, 2004   Order   Complaint
  • CFTC ANNOUNCES NOTICE OF INTENT TO REVOKE REGISTRATION OF FX FIRST, INC., OF NEWPORT BEACH, CALIFORNIA; Notice Alleges FX First Is Subject to Statutory Disqualification of its Registration with the CFTC, 4897-04, March 4, 2004.   Notice
  • FEDERAL COURT ORDERS LOS ANGELES FOREIGN CURRENCY FIRM AND ITS PRESIDENT TO REPAY CUSTOMERS MORE THAN $1 MILLION IN COMMODITY FUTURES TRADING COMMISSION FRAUD ACTION; Court Also Orders Payment of Over $5 Million in Civil Penalties, 4895-04, February 23, 2004.  Order
  • CFTC CHARGES FLORIDA FOREIGN CURRENCY (FOREX) OPTIONS FIRM WITH DEFRAUDING CUSTOMERS; Gibraltar Monetary Corporation, Inc. and Employees Jayson Kline, Charles Fremer, Thomas Clancy, and Edward Johnson Allegedly Lied When Pitching Foreign Currency Options to Customers; Forex Capital Markets, LLC Also Charged, 4892-04, February 11, 2004.   Complaint   Order
  • CFTC SETTLES TRADING FRAUD CASE WITH INDIVIDUALS FOUND TO HAVE DEFRAUDED THE FORMER COASTAL CORPORATION; 4891-04, February 11, 2004.   Soule Order   Lunman Order
  • FEDERAL COURT ORDERS TWO FLORIDA MEN TO REPAY $300,000 EACH TO CUSTOMERS THEY DEFRAUDED IN A FOREIGN CURRENCY SCAM; Defendants to Repay $300,000 to Defrauded Customers, Among Other Sanctions, 4887-04, February 4, 2004.  Order
  • FEDERAL COURT ORDERS OHIO RESIDENT KEITH ELSESSER TO REPAY CUSTOMERS IN FRAUDULENT FOREIGN CURRENCY OPTIONS SCHEME; Elsesser Also Required to Pay Civil Penalty of $120,000, 4885-04, February 2, 2004.  Order
  • CFTC IMPOSES A TOTAL OF $50 MILLION IN CIVIL PENALTIES ON SIX ENERGY TRADING FIRMS; Subsidiaries of Energy Companies Aquila, Inc. and Xcel Energy Inc. Pay $26.5 Million and $16 Million, Respectively, To Settle Charges of False Reporting and Attempted Manipulation; Also Settling Charges Of False Reporting Are Entergy Koch Trading, L.P., Oneok, Inc. and Its Trading Subsidiary and Calpine Energy Services, L.P., 4883-04, January 28, 2004.  Aquila Order   Calpine Order   Entergy Order   Eprime Order   Oneok Order
  • CFTC FINES FLOOR BROKER FOR UNLAWFULLY TRADING CRUDE OIL FUTURES CONTRACTS; Robert Benjamin Harmon, Jr. Settles Charges that He Engaged in Wash Sales, Reported Non-Bona Fide Prices, and Executed Non-competitive Trades, 4881-04, January 21, 2004.  Order
  • CFTC FINDS THAT NORMAN EISLER MANIPULATED SETTLEMENT PRICES; Norman Eisler and First West Trading, Inc. to Pay Civil Penalty of $4.9 Million, 4880-04, January 21, 2004.  Order
  • TEXAS MAN CHARGED WITH FOREIGN CURRENCY FRAUD; CFTC Charges Ross Erskine with Fraudulently Soliciting Foreign Currency Futures Customers by Making Misleading Profit Claims, 4879-04, January 15, 2004.  Complaint
  • FLORIDA FEDERAL COURT ORDERS HUSBAND AND WIFE THOMAS CHILCOTT AND LEONA WESTBROOK TO REPAY MORE THAN $2.1 MILLION TO CUSTOMERS INJURED IN COMMODITY FRAUD SCHEME; Court Also Orders Couple and Another Defendant To Pay $2.42 Million in Civil Penalties, 4878-04, January 15, 2004.   Order   Supplemental Order
  • NEW JERSEY FOREIGN CURRENCY FUTURES FIRM CHARGED WITH DEFAUDING COMMODITIES CUSTOMERS; Clearview Capital Management, Inc. and Fort Lee Resident James I. Weiss Allegedly Misrepresented Their Trading Profitability and Experience, and Charged Undisclosed Fees, 4877-04, January 13, 2004.   Clearview Complaint
  • CFTC SUSPENDS FLOOR BROKERS FOR UNLAWFULLY TRADING COFFEE FUTURES CONTRACTS, 4874-04, January 7, 2004.  Order
Last Updated: August 5, 2007