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Enforcement Actions Archive
Date
Enforcement Actions
12/20/2006
U.S. Commodity Futures Trading Commission Seeks to Revoke Registrations of Worldwide Commodity Corporation and South Coast Commodities, Inc.
Notice of Intent: South Coast Commodities
Notice of Intent: Worldwide Commodity Corporation
Amended Complaint: Worldwide Commodity Corporation
12/19/2006
CFTC Settles Foreign Currency (Forex) Fraud Action against Emerald Worldwide Holdings, Inc. and Jian Zhuang
Consent Order of Disgorgement Against Relief Defendants Ace Capital Advisory Group, Inc., Lynnwood Jen and Esther Pranolo
Consent Order of Permanent Injunction Against Defendants Jian Zhuang and Emerald Worldwide Holdings, Inc.
12/19/2006
Fifteen Defendants from “Operation Wooden Nickel” Ordered by the Court to Pay Restitution, Return Ill-Gotten Gains, and Pay Fines Totaling over $25 Million
Emerald Worldwide Holdings
Order: Matthew Salinas (03 CV 9128)
Order: Natalia Roumiatseua (03 CV 9124)
Order: Damon Riley - New York Capital Assets Order (03 CV 9128)
Order: Mazen Abdeldayem (03 CV 9128)
Order: Anthony Iannuzzi (03 CV 9125)
Order: Anthony Iannuzzi (03 CV 9129)
Order: Walter Scott Lev (03 CV 9126)
Order: Michael Korobov (03 CV 9126)
Order: Fuzzy Group (03 CV 9126)
Order: John Capuano (03 CV 9125)
Order: Ian Bursztyn (03 CV 9125)
Order: Ian Bursztyn (03 CV 9127)
Order: Ian Bursztyn (03 CV 9128)
12/12/2006
South Florida Court Orders Three Barcelona-Based Companies to Pay Over $19 Million in Disgorgement and Civil Penalties for Foreign Currency (Forex) Options Scam
Order Granting Motion for Default Judgment: International Berkshire Group Holdings, Inc. et al.
Default Judgment and Order of Permanent Injunction: International Berkshire Group Holdings, Inc. et al.
12/04/2006
California Federal Court Orders Defendant to Pay Over $29 Million in CFTC Fraud Action
Consent Order: Lucia Matthews
11/30/2006
U.S. Commodity Futures Trading Commission Charges Chicago Resident Peter D. Hoffman with Defrauding Commodity Futures Customers
Consent Order: Peter D. Hoffman
Complaint: Peter D. Hoffman
11/17/2006
CFTC Settles Natural Gas False Reporting and Attempted Manipulation Lawsuit with Two Energy Traders
Consent Order of Permanent Injunction: Michael Whalen
Consent Order of Permanent Injunction: Christopher McDonald
11/16/2006
CFTC Obtains Preliminary Injunctions Against Nevada Corporation and Two Individuals
Ex Parte Statutory Restraining Order: Alliance Development Company
Order of Preliminary Injunction: Alliance Development Company
Order of Preliminary Injunction: Christi Wilson
Order of Preliminary Injunction: William Snyder
Complaint: Alliance Development Company
11/08/2006
Florida Federal Court Enters Judgment against Foreign Currency (Forex) Firm and Controlling Person in a Fraud Action Brought by the CFTC
Order: G7 Advisory Services LLC and Michael Geraud, a/k/a Mike Jeraux
11/06/2006
North Carolina Court Orders Relief Defendant Pamela Kingsfield to Disgorge Ill-Gotten Gains Totaling $175,000
Order: Pamela Kingsfield
10/26/2006
U.S. District Court for the Middle District of Florida Permanently Prohibits Defendant in CFTC Anti-Fraud Action from Commodity Futures and Options Trading
U.S. Court of Appeals for the Eleventh Circuit (11th Cir. 2002) - Findings
Order of Permanent Injunction: Leiza Fitzgerald
10/18/2006
CFTC Obtains Permanent Injunction Against Muskegon Heights, Michigan Man Charged with Defrauding Managed Account Clients
Consent Order of Permanent Injunction: Steven G. Schroeder
10/12/2006
CFTC Obtains Federal Court Order Freezing Assets of Tennessee Resident Charged with Fraud in Connection with Operating a Commodity Pool
Complaint: Christian Kis
Statutory Restraining Order: Christian Kis
10/12/2006
U.S. Commodity Futures Trading Commission Charges Virginia Man and California Corporation with Fraud
Complaint: Michael Hayes a/k/a Frank Richards
10/10/2006
CFTC Seeks to Revoke the Registration of Wilshire Investment Management Corporation
Federal Court Finds Florida Corporation Wilshire Investment Management Corporation, Inc. and Employees Committed Commodity Option Fraud in Action by the CFTC
Notice of Intent: Wilshire Investment Management Corporation
10/10/2006
CFTC Seeks to Revoke the Registration of Hedge Fund Operator Bayou Management LLC
Notice of Intent: Bayou Management LLC
10/06/2006
Federal Court Imposes More than $14.7 Million in Sanctions on Two Florida Corporations and Five South Florida Men in Commodity Options Fraud Case
Consent Order: Worldwide Commodity Corporation, et al.
10/05/2006
CFTC Settles Commodity Pool Fraud Charges with Florida Resident Eddie Holman Jr.
Order: Eddie Holman, Jr. d/b/a C-THRU, Inc.
10/05/2006
CFTC Charges Utah Resident William D. Perkins with $3.4 Million Hedge Fund Fraud
Complaint: William D. Perkins
10/04/2006
South Florida Court Orders Boca Raton Residents to Disgorge Ill-Gotten Gains from Foreign Currency Options Fraud
Order: Tirtza Jedlicki
Order: Jeffery Jedlicki
CFTC Charges Florida Residents Doreen R. Valko and Frank Desantis And Their Company - International Investments Holdings, Corp (IIHC) -- with Defrauding Customers of More than $1.1 Million
10/04/2006
CFTC Obtains Federal Court Order Freezing Assets of Muskegon Heights, Michigan Man Charged with Defrauding Managed Account Clients
Statutory Restraining Order: Steven G. Schroeder
Complaint: Steven G. Schroeder
10/04/2006
CFTC Files and Settles Charges Against Florida Resident and His Company for Violating Exchange Trading Limits at the New York Board of Trade
10/02/2006
CFTC Settles Natural Gas Attempted Manipulation Lawsuit with Joseph P. Foley, a Former American Electric Power Company, Inc. Trader
Order: Joseph P. Foley
09/27/2006
Virginia Federal Court Enters Judgment against Foreign Currency (Forex) Firm and Two Individuals in a Fraud Action Brought by the CFTC
Report and Recommendations: Presidential FX, Inc, Adam Leon, and Joseph Marchiano
Order: Presidential FX, Inc, Adam Leon, and Joseph Marchiano
09/27/2006
Dominion Resources, Inc. Agrees to Pay a $4.25 Million Civil Penalty to Settle CFTC Charges of False Reporting
Order: Dominion Resources, Inc.
09/26/2006
CFTC Seeks to Revoke Registration of United Investors Group, Inc., of Boca Raton, Florida
South Florida Court Imposes Over $25 Million in Sanctions in Energy and Foreign Currency Options Fraud Case
Notice of Intent: United Investors Group, Inc.
09/26/2006
CFTC Revokes the Registration of Chase Commodities Corporation of Woodland Hills, California
Los Angeles Federal Court Orders California Company and Two of its Principals to Pay $4.2 Million to Defrauded Commodity Option Customers
Opinion and Order: Chase Commodities Corporation
09/21/2006
CFTC Settles Foreign Currency (Forex) Futures Fraud Action
Consent Order: Axess Trading Co., Inc.
09/18/2006
Northern California District Court Orders Defendants in a San Francisco Foreign Currency (Forex) Fraud Action to Pay Over $2 Million in Restitution and Civil Penalties
Order: National Investment Consultants, Inc., et al
09/18/2006
CFTC Charges Two Websites with Commodities Options Scam
Ex Parte Restraining Order: American Energy Exchange and York Commodities
Complaint: American Energy Exchange and York Commodities
09/14/2006
CFTC Settles Foreign Currency (Forex) Fraud Action Resulting in Over $2.5 Million in Civil Penalties
Order: Mercury Financial Partners, Inc.
Order: Michael Morgan and Mercury Management, L.C.
Order: Mercury Partners, Inc.
Order: Andrew Bartos
Consent Order: Bruce N. Crown
09/14/2006
CFTC Charges Texas Man and His Company With Defrauding Customers of $4.5 Million
Complaint: Carl W. King and Carl W. King Investments, LLP
09/05/2006
South Florida Court Orders International Investments Holdings Corporation to Pay Over $12 Million in Restitution and Civil Penalties for Foreign Currency Options Scam
Order: International Investments Holdings Corporation
CFTC Charges Florida Residents Doreen R. Valko and Frank Desantis And Their Company - International Investments Holdings, Corp (IIHC) -- with Defrauding Customers of More than $1.1 Million
08/31/2006
CFTC Revokes the Registration of Hedge Fund Operator Samuel Israel III, Former Managing Member of Bayou Management LLC
Opinion and Order: Samuel Israel III
Notice of Intent to Revoke: Samuel Israel III
08/30/2006
Federal Court Imposes More Than $22 Million in Sanctions on Georgia Corporation and Six Broker/Traders in Commodity Options Fraud Case
Judgment: Rick Siegel
Consent Order: Rick Siegel
Consent Order: Richard Tillman
Consent Order: Risk Capital Trading Group, Inc.
08/24/2006
CFTC Charges Telephone Clerk for a Floor Brokerage Operation at the NYMEX with Scheme to Defraud
Complaint: Matthew Doyle
08/16/2006
Federal Court Orders James de Wet, a South African Resident, to Pay Over $1 Million for Violating the Commodity Exchange Act
Permanent Injunction Order: James de Wet
Monetary Judgment Order: James de Wet
08/10/2006
Southern Texas Court Orders Nexgen Software Systems, Inc., to Pay Civil Monetary Penalty for Failure to Register as a Commodity Trading Advisor
Permanent Injunction Order: John Novak and Nexgen Software Systems, Inc.
08/10/2006
CFTC Settles Foreign Currency Fraud Action Against COES FX Clearing, Inc.
Permanent Injunction Order: COES FX Clearing, Inc.
08/10/2006
Eighth Circuit Court of Appeals Finds that the CFTC Properly Pursued Charges Against NRG Energy, Inc. in Minnesota District Court
Appeal Decision: NRG Energy Inc.
08/09/2006
South Florida Court Finds William David Seigler, Jr., of Largo, Florida, and Sonoma Trading Corporation Liable for Marketing Illegal Off-Exchange Foreign Currency Options
Permanent Order Injunction: Sonoma Trading Corporation and William David Seigler Jr.
08/09/2006
CFTC Charges California Resident Gilbert Philip Castillo, Jr., and His Company, Castle Enterprise Corporation, with Fraud
Complaint: Gilbert Philip Castillo Jr. and Castle Enterprise Corporation
08/08/2006
CFTC Files and Settles Charges of Fraud and Misappropriation against Former Employee of California Commodity Trading Firm Castle Trading Inc.
Order: Toby Wayne Denniston II
07/27/2006
California Federal Court Orders Australian Commodity System Vendor Richard Swannell to Pay Civil Monetary Penalty
Permanent Injunction Order: Richard Swannell
07/26/2006
South Florida Court Imposes Over $25 Million in Sanctions in Energy and Foreign Currency Options Fraud Case
Opinion and Final Order: United Investors Group, Inc, Greg P. Allota, Jay M. Levy, Paul F. Plunkett, Andrew D. Ross and Michael H. Savitsky III
Permanent Injunction Order: United Investors Group, Inc, Greg P. Allota, Jay M. Levy, Paul F. Plunkett, Andrew D. Ross and Michael H. Savitsky III
07/25/2006
Federal Court Orders Nicholas A. Guarino, Jr. and Wall Street Underground, Inc. to Pay Over $2 Million to Defrauded Customers and to Pay a $7 Million Fine for Fraudulently Promoting Commodity Trading Systems
Receiver's Motion: Wall Street Underground, Inc., et al.
Permanent Injunction Order: Web Fullfillment Centre Inc. and Frank Asaro
Order of Default Judgment: Wall Street Underground, Inc., et al.
07/25/2006
Federal District Court Orders North Carolina Resident John Poole to Pay Civil Monetary Penalty for Fraudulently Promoting Commodity Trading System
Order: John Poole a/k/a James Drew and d/b/a Mac Systems
07/24/2006
CFTC Charges Florida Residents Doreen R. Valko and Frank Desantis And Their Company - International Investments Holdings, Corp (IIHC) -- with Defrauding Customers of More than $1.1 Million
Asset Freeze Order: Doreen Valko, Frank DeSantis and International Investments Holdings Corporation
Complaint: Doreen Valko, Frank DeSantis and International Investments Holdings Corporation
07/20/2006
Federal Court Issues Preliminary Injunction in CFTC Hedge Fund Fraud Case
Preliminary Injunction Order: Aurifex Commodity Research Company, Aurifex Research LLC, Ty Klotz and Monette Klotz
07/19/2006
Miami, Florida Area Residents Melvin Webman and Larry Webman Ordered by Federal Court to Pay Over $2.9 Million in Foreign Currency Fraud Action Brought by the CFTC
Order for Entry of Judgment by Default: Larry Webman, Melvin Webman, Lyle Wexler, International Forex Advisory Group and Worldwide Currencies Corporation
Permanent Injunction Order: Larry Webman, Melvin Webman, Lyle Wexler, International Forex Advisory Group and Worldwide Currencies Corporation
07/19/2006
Federal Court Finds Florida Corporation Wilshire Investment Management Corporation, Inc. and Employees Committed Commodity Option Fraud in Action by the CFTC
Order: Wilshire Investment Management Corporation, National Commodities Corporation Inc., Andrew Alan Wilshire, Eric Scott Malcolmson, and James Joseph Russo
07/13/2006
Federal Court Finds Ohio Corporation Carnegie Trading Group, Ltd., Inc. and its President, John Glase, Liable for Acts of Employees in Fraudulent Sales Solicitation Case Brought by the CFTC
Order: Denying CFTC Motion for Reconsideration
Permanent Injunction Order: Reid Henshaw
Permanent Injunction Order: John Hollenbaugh
Memorandum Opinion: Carnegie Trading Group Ltd Inc., et al.
Judgment: Carnegie Trading Group Ltd. Inc., et al.
06/28/2006
CFTC Charges BP Products North America, Inc. with Cornering the Propane Market and Manipulating the Price of Propane
Exhibit G: Audio Transcript - BP Products North America Inc.
Exhibit B: Audio Transcript - BP Products North America Inc.
Exhibit C: Audio Transcript - BP Products North America Inc.
Exhibit D: Audio Transcript - BP Products North America Inc.
Exhibit F: Feb Lessons Learned - BP Products North America Inc.
Exhibit E: BP Products North America Inc. - 2004 Position Summary vs. TEPPCO Inventory
Exhibit A: Organization Chart - BP Products North America Inc.
Attachment 1: Glossary - BP Products North America Inc.
Complaint: BP Products North America Inc.
06/27/2006
Federal Court Issues Final Judgment in Trial of Fraud Action Brought by the CFTC
Finds of Fact and Conclusions of Law: Gilbraltar Monetary Corporation Inc., et al.
Final Judgment: Gilbraltar Monetary Corporation Inc., et al.
06/20/2006
CFTC Charges Pennsylvania Resident Gary Scholze with Fraud and Misappropriation of Customer Funds
Complaint: Gary F. Scholze
06/13/2006
CFTC Files and Settles Commodity Pool Fraud Action against Minnesota Resident Michael J. Liskiewicz
Order: Michael J. Liskiewicz
06/05/2006
Federal Court Imposes $10 Million in Sanctions on Florida Corporation and Five South Florida Men in Commodity Options Fraud Case
Order: First American Investment Services Inc., Steve Knowles, Michael Savitsky, Adam Mills, Greg Allotta and James Eulo
05/09/2006
Federal Court Orders San Antonio, Texas Area Resident Stuart J. Pippin to Pay $1.68 Million to Hedge Fund Investors
Permanent Injunction Order: Stuart Pippin
05/04/2006
Dallas, Texas Area Resident Roger Owen and His Two Companies Ordered to Pay $1.75 Million in Fraud Action Brought by the CFTC
Order: Daniel Belbeck
Order: Roger Owen, Longhorn Financial Advisors LLC, and Phoenix Financial Group
05/04/2006
Federal Court Finds that Oklahoma Trader Randy Steve Lanier Defrauded Customers in a Commodity Scheme Involving Misappropriation of Customer Funds
Permanent Injunction Order: Randy Steve Lanier
05/01/2006
CFTC to Participate in Annual Money Smart Week In Chicago
04/27/2006
U.S. District Court Freezes Assets of South Florida Foreign Currency Firm First International Group, Inc. Based on Fraud Charges by CFTC
Asset Freeze Order: First International Group, Inc., Michael Mesa, and Tom Keesee
Complaint: First International Group, Inc., Michael Mesa, and Tom Keesee
04/20/2006
U.S. Attorney Indicts North Carolina Couple Howell and Vernice Woltz for Obstructing Civil Litigation Brought by CFTC
Bill of Indictment: Howell Woltz and Vernice Woltz
Asset Freeze Order: First International Group, Inc., Michael Mesa, and Tom Keesee
04/11/2006
Mesa, Arizona Foreign Currency Trader Ronald Stephen Holt Settles Fraud Charges with CFTC for Nearly $32 Million
Permanent Injunction Order: International Funding Association, et al.
03/31/2006
Fraudulent Commodity Brokers Charles Hoffecker and Charles Myers Convicted in Commodity Scheme
U.S. Attorney Press Release: Two Masterminds of $13 Million International Fraud Scheme Convicted in Federal Court
03/20/2006
CFTC Charges Las Vegas, Nevada, Resident Richard McCall With Fraud, Alleging that McCall, Doing Business As The Mastery Group International, Fraudulently Solicited Clients for Futures Trading Workshops on the Internet
Preliminary Injunction Order: Richard McCall d/b/a The Mastery Group International
Complaint: Richard McCall d/b/a The Mastery Group International
03/17/2006
CFTC Charges Mason, Michigan, Couple Ty and Monette Klotz and Their Aurifex Investment Companies With Hedge Fund Fraud
Ex Parte Statutory Restraining Order: Aurifex Commodity Research Company, Aurifex Research LLC, Ty Klotz and Monette Klotz
Complaint: Aurifex Commodity Research Company, Aurifex Research LLC, Ty Klotz and Monette Klotz
03/15/2006
CFTC Charges New York Firm Falco & Stevens, Inc. and its President Vyacheslav Nass with Stealing Millions in Foreign Currency Scam
Complaint: Falco & Stevens Inc. and Vyacheslav Nass
Order: Falco & Stevens, Inc. and Vyacheslav Nass
02/10/2006
Los Angeles Federal Court Orders California Company and Two of its Principals to Pay $4.2 Million to Defrauded Commodity Option Customers
Order: Chase Commodities Corporation, Lee LaGorio, Excel Obando, and Universal Financial Holding Corporation
02/07/2006
CFTC Charges Florida Man And His Firm With Stealing $1.5 Million From Customers
Asset Freeze Order: Lazaro Jose Rodriguez
Complaint: Lazaro Jose Rodriguez
02/02/2006
CFTC Finds That Commodity Trading Advisor Misled Public About Commodity Options Trading System
Order: James R. Burgess and Optioneer Inc. d/b/a Optioneer Systems
01/30/2006
U.S. Commodity Futures Trading Commission Charges Two Staten Island Hedge Funds And Their Principal With Stealing Millions Of Dollars In Foreign Currency Scheme
Order: Alexsander Efrosman, Century Maxim Fund Inc., and AJR Capital Inc.
Complaint: Alexsander Efrosman, Century Maxim Fund Inc., and AJR Capital Inc.
01/25/2006
CFTC Obtains Federal Court Order Freezing Assets Of California Commodity Pool Operator Galaxy Resources 2000 LLC And Manager Charles A. Defazio In Fraud Action
Complaint: Charles A. Defazio and Galaxy Resources 2000 LLC
Asset Freeze Order: Charles A. Defazio and Galaxy Resources 2000 LLC
01/04/2006
CFTC Assesses Penalties of $300,000 Against Shell-Related Companies and Trader in Settling Charges of Prearranging Crude Oil Trades
Order: Shell Trading US Company, Shell International Trading and Shipping Co., and Nigel Catterall
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