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CFTC Enforcement Actions on Commodity Futures Brokers and othe Operators Selling in the Futures and Forex Markets in 2006
2007 2006 2005 2004 2003 2002
December 20, 2006 - CFTC Seeks to Revoke Registrations of Worldwide Commodity Corporation and South Coast Commodities, Inc., both of Pembroke Pines, Florida,
http://www.cftc.gov/opa/enf06/opa5268-06.htm
December 19, 2006 - CFTC Settles Foreign Currency (Forex) Fraud Action against Emerald Worldwide Holdings, Inc. and Jian Zhuang ; Emerald Worldwide Holdings, Inc. Ordered to Pay Over $12 Million in Restitution and Civil Penalties,
http://www.cftc.gov/opa/enf06/opa5266-06.htm
December 19, 2006 - 15 Defendants from "Operation Wooden Nickel" Ordered by the Court to Pay Restitution, Return Ill-Gotten Gains, and Pay Fines Totaling over $25 Million; the Honorable George Daniels of the U.S. District Court for the Southern District of New York Finds that these 15 Defendants Committed Fraud and/or Received Ill-Gotten Gains From the Sale of Illegal Off-Exchange Foreign Currency Futures Contracts,
http://www.cftc.gov/opa/enf06/opa5265-06.htm
December 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; Harrington Advisory Services, SL, Richmond Royce Advisory Services, SLU, and Stratford Advisory Services Engaged in a Common Enterprise to Defraud Customers and Misappropriate Funds,
http://www.cftc.gov/opa/enf06/opa5263-06.htm
December 4, 2006 - California Federal Court Orders Defendant to Pay Over $29 Million in CFTC Fraud Action; Richard Matthews, Jr. to Pay Civil Penalties and Restitution to His Victims
http://www.cftc.gov/opa/enf06/opa5261-06.htm
November 30, 2006 - U.S. Commodity Futures Trading Commission Charges Chicago Resident Peter D. Hoffman with Defrauding Commodity Futures Customers; Conduct Violates Prior Order against Hoffman Prohibiting Him from Engaging in Certain Commodity Related Activities
http://www.cftc.gov/opa/enf06/opa5260-06.htm
November 17, 2006 - CFTC Settles Natural Gas False Reporting and Attempted Manipulation Lawsuit with Two Energy Traders; Defendants Christopher McDonald, a Former V.P. of West Trading at Mirant Americas Energy Marketing, L.P. (Mirant), and Michael Whalen, a Former Trader at Cinergy Corporation (Cinergy), Ordered to Pay a Total of $550,000 in Civil Monetary Penalties,
http://www.cftc.gov/opa/enf06/opa5258-06.htm
November 16, 2006 - CFTC Obtains Preliminary Injunctions Against Nevada Corporation and Two Individuals; Alliance Development Company, William Snyder, and Christi Wilson Charged with Misappropriation and Fraud in the Solicitation of Commodity Pool Participants,
http://www.cftc.gov/opa/enf06/opa5257-06.htm
November 8, 2006 - Florida Federal Court Enters Judgment against Foreign Currency (Forex) Firm and Controlling Person in a Fraud Action Brought by the CFTC; G7 Advisory Services, LLC and Michel Geraud (a/k/a Mike Jeraux) Ordered to Pay $2.1 Million in Restitution and $1.75 Million in Civil Monetary Penalties,
http://www.cftc.gov/opa/enf06/opa5256-06.htm
November 6, 2006 - North Carolina Court Orders Relief Defendant Pamela Kingsfield to Disgorge Ill-Gotten Gains Totaling $175,000; Order Represents the Final Chapter in Litigation Resulting in Over $15.8 Million in Restitution, Disgorgement, and Penalties,
http://www.cftc.gov/opa/enf06/opa5255-06.htm
October 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, Finding that Leiza Fitzgerald Violated the CEA,
http://www.cftc.gov/opa/enf06/opa5251-06.htm
October 18, 2006 - CFTC Obtains Permanent Injunction Against Muskegon Heights, Michigan Man Charged with Defrauding Managed Account Clients; Steven G. Schroeder Permanently Restrained from Engaging in Commodity Futures Trading,
http://www.cftc.gov/opa/enf06/opa5249-06.htm
October 12, 2006 - CFTC Obtains Federal Court Order Freezing Assets of Tennessee Resident Charged with Fraud in Connection with Operating a Commodity Pool; Christian Kis Is Charged with Issuing False Statements to Investors in the U.S. and the U.K.,
http://www.cftc.gov/opa/enf06/opa5246-06.htm
October 12, 2006 - CFTC Charges Virginia Resident Michael Hayes and Coldwell Publishing, Inc., a California Corporation, with Fraud,
http://www.cftc.gov/opa/enf06/opa5245-06.htm
October 10, 2006 - CFTC Seeks to Revoke the Registration of Wilshire Investment Management Corporation,
http://www.cftc.gov/opa/enf06/opa5244-06.htm
October 10, 2006 - CFTC Seeks to Revoke the Registration of Hedge Fund Operator Bayou Management LLC
http://www.cftc.gov/opa/enf06/opa5243-06.htm
October 6, 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; Court's Order Against Worldwide Commodity Corporation States that Worldwide Fraudulently Told Prospective Customers They Could Expect to Make Large Returns on Their Investments Quickly by Trading Commodity Options Based upon Various Well-Known World Events, Such as the War in Iraq,
http://www.cftc.gov/opa/enf06/opa5242-06.htm
October 5, 2006 - CFTC Settles Commodity Pool Fraud Charges with Florida Resident Eddie Holman Jr.,
http://www.cftc.gov/opa/enf06/opa5241-06.htm
October 5, 2006 - CFTC Charges Utah Resident William D. Perkins with $3.4 Million Hedge Fund Fraud,
http://www.cftc.gov/opa/enf06/opa5240-06.htm
October 4, 2006 - South Florida Court Orders Boca Raton Residents to Disgorge Ill-Gotten Gains from Foreign Currency Options Fraud; Defendants Jeffrey and Tirtza Jedlicki Unjustifiably Received Funds from Defrauded Customers' Deposits,
http://cftc.gov/opa/enf06/opa5239-06.htm
October 4, 2006 - CFTC Obtains Federal Court Order Freezing Assets of Muskegon Heights, Michigan Man Charged with Defrauding Managed Account Clients; Steven G. Schroeder Charged with Fraudulently Soliciting More than $1 Million from Clients,
http://cftc.gov/opa/enf06/opa5238-06.htm
October 4, 2006 - CFTC Files and Settles Charges Against Florida Resident and His Company for Violating Exchange Trading Limits at the New York Board of Trade; Andrew Machata and Rolling Meadow Ranch, Inc. Agree to Pay $130,000 Civil Monetary Penalty,
http://cftc.gov/opa/enf06/opa5237-06.htm
October 2, 2006 - CFTC Settles Natural Gas Attempted Manipulation Lawsuit with Joseph P. Foley, a Former American Electric Power Company, Inc. Trader; Defendant Ordered to Pay $350,000 in Civil Monetary Penalties,
http://cftc.gov/opa/enf06/opa5236-06.htm
September 27, 2006 - Virginia Federal Court Enters Judgment against Foreign Currency (Forex) Firm and Two Individuals in a Fraud Action Brought by the CFTC; Presidential FX, Inc. and Adam Leon Ordered To Pay Jointly Nearly $1.6 Million in Restitution and $1 Million Each in Civil Monetary Penalties; Joseph Marchiano Ordered To Pay $267,660 in Restitution and a $450,000 Civil Monetary Penalty,
http://cftc.gov/opa/enf06/opa5234-06.htm
September 27, 2006 - Dominion Resources, Inc. Agrees to Pay a $4.25 Million Civil Penalty to Settle U.S. Commodity Futures Trading Commission Charges of False Reporting; False Reporting of Natural Gas Transactions to Gas Daily, Inside FERC, and Natural Gas Intelligence Spanned Nearly Two Years,
http://cftc.gov/opa/enf06/opa5233-06.htm
September 26, 2006 - CFTC Seeks to Revoke Registration of United Investors Group, Inc., of Boca Raton, Florida,
http://cftc.gov/opa/enf06/opa5232-06.htm
September 26, 2006 - CFTC Revokes the Registration of Chase Commodities Corporation of Woodland Hills, California,
http://cftc.gov/opa/enf06/opa5231-06.htm
September 21, 2006 - CFTC Settles Foreign Currency (Forex) Futures Fraud Action; Axess Trading Co., Inc. Ordered to Pay Over $550,000 in Restitution and Civil Monetary Penalties, Among Other Sanctions,
http://cftc.gov/opa/enf06/opa5230-06.htm
September 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; U.S. Commodity Futures Trading Commission and State of California Obtain Consent Order Settling Charges of Fraudulent Solicitation and Illegal Operation Against National Investment Consultants, Inc., Pacific Best Group Limited, a.k.a. Pacific Best Company Ltd. and Wei Man Tse a.k.a. Raymond Tse, Run Ping Zhou, a.k.a Flora Zhou, and Yi Kerry Xu,
http://cftc.gov/opa/enf06/opa5229-06.htm
September 18, 2006 - CFTC Charges Two Websites with Commodities Options Scam; CFTC Alleges that American Energy Exchange and York Commodities Fraudulently Solicited Customers; Customer Losses Total Over $1.39 million,
http://cftc.gov/opa/enf06/opa5228-06.htm
September 14, 2006 - CFTC Settles Foreign Currency (Forex) Fraud Action Resulting in Over $2.5 Million in Civil Penalties; Mercury Partners, Inc., Mercury Financial Partners, Inc., Mercury Management, L.C. and Others Liable for Fraud and Misappropriation,
http://cftc.gov/opa/enf06/opa5227-06.htm
September 14, 2006 - CFTC Charges Texas Man and His Company With Defrauding Customers of $4.5 Million; Carl W. King and Carl W. King Investments, LLP Defrauded Customers and Issued False Account Statements,
http://cftc.gov/opa/enf06/opa5226-06.htm
September 5, 2006 - South Florida Court Orders International Investments Holdings Corporation to Pay Over $12 Million in Restitution and Civil Penalties for Foreign Currency (Forex) Options Scam,
http://cftc.gov/opa/enf06/opa5225-06.htm
August 31, 2006 - CFTC Revokes the Registration of Hedge Fund Operator Samuel Israel III, Former Managing Member of Bayou Management LLC,
http://cftc.gov/opa/enf06/opa5224-06.htm
August 30, 2006 - Federal Court Imposes More Than $22 Million in Sanctions on Georgia Corporation and Six Broker/Traders in Commodity Options Fraud Case; Risk Capital Trading Group, Inc., Deron Baugh, Ty Edwards, Stephen Margol, Juan Valentin, Richard Tillman, and Rick Siegel Fraudulently Touted High Profits with Low Risk, While Customers Lost Millions,
http://cftc.gov/opa/enf06/opa5222-06.htm
August 24, 2006 - CFTC Charges Telephone Clerk for a Floor Brokerage Operation at the NYMEX with Scheme to Defraud; Fraud Involving Natural Gas Contracts by Defendant Matthew Doyle Cost his Employer Millions of Dollars in Losses,
http://cftc.gov/opa/enf06/opa5221-06.htm
August 16, 2006 - Federal Court Orders James de Wet, a South African Resident, to Pay Over $1 Million for Violating the Commodity Exchange Act; Court Finds that de Wet Made Misrepresentations on his Website at www.teamforex.com and Orders Him to Pay Restitution and a Civil Monetary Penalty and to Disgorge Ill-Gotten Gains,
http://cftc.gov/opa/enf06/opa5218-06.htm
August 10, 2006 - Southern Texas Court Orders Nexgen Software Systems, Inc., to Pay Civil Monetary Penalty for Failure to Register as a Commodity Trading Advisor; Court Finds that Subscription Trading Service Required Nexgen Software Systems to Register as a Commodity Trading Advisor,
http://cftc.gov/opa/enf06/opa5216-06.htm
August 10, 2006 CFTC Settles Foreign Currency (Forex) Fraud Action Against COES FX Clearing, Inc.; Futures Commission Merchant to Pay $246,601 in Restitution for Defrauded Customers,
http://cftc.gov/opa/enf06/opa5215-06.htm
August 10, 2006 Eighth Circuit Court of Appeals Finds that the CFTC Properly Pursued Charges Against NRG Energy, Inc. in Minnesota District Court; Circuit Court Concludes that the Minnesota District Court -- and Not the Bankruptcy Court in New York Where NRG Petitioned for Chapter 11 Bankruptcy Relief -- Has Jurisdiction Over the Commission's Enforcement Action,
http://cftc.gov/opa/enf06/opa5214-06.htm
August 9, 2006 - South Florida Court Finds William David Seigler, Jr., of Largo, Florida, and Sonoma Trading Corporation Liable for Marketing Illegal Off-Exchange Foreign Currency (Forex) Options; Defendants Ordered to Pay $500,000 for Operating Internet Forex Scam,
http://cftc.gov/opa/enf06/opa5213-06.htm
August 9, 2006 - CFTC Charges California Resident Gilbert Philip Castillo, Jr., and His Company, Castle Enterprise Corporation, with Fraud, Alleging that Defendants Fraudulently Solicited Over $800,000 from Customers in Connection with the Trading of S&P 500 Commodity Futures and Option Contracts through Three Internet Websites,
http://cftc.gov/opa/enf06/opa5212-06.htm
August 8, 2006 - CFTC Files and Settles Charges of Fraud and Misappropriation against Former Employee of California Commodity Trading Firm Castle Trading Inc.; Toby Wayne Denniston, II, of Alta Loma, California, Agrees to Pay Restitution of Approximately $209,000 and a Civil Penalty of $250,000,
http://cftc.gov/opa/enf06/opa5211-06.htm
July 27, 2006 - California Federal Court Orders Australian Commodity System Vendor Richard Swannell to Pay Civil Monetary Penalty,
http://cftc.gov/opa/enf06/opa5208-06.htm
July 26, 2006 - South Florida Court Imposes Over $25 Million in Sanctions in Energy and Foreign Currency Options Fraud Case; United Investors Group, Inc., Principals, and Salesmen Fraudulently Touted High Profits with Low Risk, While Customers Lost Millions
http://cftc.gov/opa/enf06/opa5207-06.htm
July 26, 2006 - South Florida Court Imposes Over $25 Million in Sanctions in Energy and Foreign Currency Options Fraud Case; United Investors Group, Inc., Principals, and Salesmen Fraudulently Touted High Profits with Low Risk, While Customers Lost Millions
http://cftc.gov/opa/enf06/opa5207-06.htm
July 25, 2006 - Federal Court Orders Kansas City Resident Nicholas A. Guarino, Jr. and Merriam, Kansas Company 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
http://cftc.gov/opa/enf06/opa5206-06.htm
July 25, 2006 - Federal District Court Orders North Carolina Resident John Poole to Pay Civil Monetary Penalty for Fraudulently Promoting Commodity Trading System; Court Finds that He Made False Representations on his Website: www.optionstoriches.com
http://cftc.gov/opa/enf06/opa5205-06.htm
July 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; CFTC Charges that Defendants Defrauded More than 200 Customers in Connection with Commodity Options Contracts
http://cftc.gov/opa/enf06/opa5204-06.htm
July 20, 2006 - Federal Court Issues Preliminary Injunction in CFTC Hedge Fund Fraud Case; Michigan Firms, Aurifex Commodity Research Company and Aurifex Research, LLC, and Michigan Residents Ty and Monette Klotz are Enjoined as Part of Ponzi Scheme
http://cftc.gov/opa/enf06/opa5202-06.htm
July 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; International Forex Advisory Group and Worldwide Currencies Corp. Ordered to Pay Over $6 Million in Restitution and Civil Monetary Penalties
http://cftc.gov/opa/enf06/opa5201-06.htm
July 19, 2006 - Federal Court Finds Florida Corporation Wilshire Investment Management Corporation, Inc. and Employees Committed Commodity Option Fraud in Action by the CFTC; Company, President and CEO Andrew Wilshire, and Employees Eric Scott Malcolmson and James Joseph Russo Banned from Commodities Industry and Ordered to Pay Over $500,000 in Restitution and Civil Penalties
http://cftc.gov/opa/enf06/opa5200-06.htm
July 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
http://cftc.gov/opa/enf06/opa5197-06.htm
June 28, 2006 - CFTC Charges BP Products North America, Inc. with Cornering the Propane Market and Manipulating the Price of Propane; Complaint Alleges that BP's Actions Resulted in Higher Prices for Residential and Commercial Consumers of Propane
http://cftc.gov/opa/enf06/opa5193-06.htm
June 27, 2006 - Federal Court Issues Final Judgment in Trial of Fraud Action Brought by the CFTC; Gibraltar Monetary Corporation, Inc. and Employees Jayson Kline, Charles Fremer and Edward Johnson Ordered to Pay Over $2.7 Million to 253 Foreign Currency (Forex) Options Customers
http://cftc.gov/opa/enf06/opa5192-06.htm
June 20, 2006 - CFTC Charges Pennsylvania Resident Gary Scholze with Fraud and Misappropriation of Customer Funds; Alleges that Scholze Fraudulently Solicited Approximately $1.2 Million from Customers to Trade Commodity Futures and Options Contracts
http://cftc.gov/opa/enf06/opa5188-06.htm
June 13, 2006 - CFTC Files and Settles Commodity Pool Fraud Action against Minnesota Resident Michael J. Liskiewicz; CFTC Finds that Liskiewicz Misappropriated Funds and Concealed Losses
http://cftc.gov/opa/enf06/opa5187-06.htm
June 5, 2006 - Federal Court Imposes $10 Million in Sanctions on Florida Corporation and Five South Florida Men in Commodity Options Fraud Case; First American Investment Services, Inc., Steve Knowles, Michael Savitsky, Adam Mills, Greg Allotta and James Eulo Fraudulently Touted High Profits with Low Risk, While Customers Lost Millions
http://cftc.gov/opa/enf06/opa5185-06.htm
May 9, 2006 - Federal Court Orders San Antonio, Texas Area Resident Stuart J. Pippin to Pay $1.68 Million to Hedge Fund Investors; Pippin, Doing Business as Pippin Investments, Ordered to Pay Restitution and Civil Penalties for Issuing False Trading Results to Investors and Misappropriating Their Funds
http://cftc.gov/opa/enf06/opa5181-06.htm
May 4, 2006 - Dallas, Texas Area Resident Roger Owen and His Two Companies Ordered to Pay $1.75 Million in Fraud Action Brought by the CFTC
http://cftc.gov/opa/enf06/opa5180-06.htm
May 4, 2006 - Federal Court Finds that Oklahoma Trader Randy Steve Lanier Defrauded Customers in a Commodity Scheme Involving Misappropriation of Customer Funds
http://cftc.gov/opa/enf06/opa5179-06.htm
May 4, 2006 - Dallas, Texas Area Resident Roger Owen and His Two Companies Ordered to Pay $1.75 Million in Fraud Action Brought by the CFTC,
http://www.cftc.gov/opa/enf06/opa5180-06.htm
May 4, 2006 - Federal Court Finds that Oklahoma Trader Randy Steve Lanier Defrauded Customers in a Commodity Scheme Involving Misappropriation of Customer Funds,
http://www.cftc.gov/opa/enf06/opa5179-06.htm
April 27, 2006 - U.S. District Court Freezes Assets of South Florida Foreign Currency Firm First International Group, Inc. Based on Fraud Charges by CFTC; CFTC Alleges that First International Group and Two Brokers Made False and Misleading Sales Solicitations to Investors in Foreign Currency (Forex) Options Contracts;
http://www.cftc.gov/opa/enf06/opa5177-06.htm
April 20, 2006 - U.S. Attorney Indicts North Carolina Couple Howell and Vernice Woltz for Obstructing Civil Litigation Brought by CFTC;
http://www.cftc.gov/opa/enf06/opa5176-06.htm
April 11, 2006 Mesa, Arizona Foreign Currency Trader Ronald Stephen Holt Settles Fraud Charges with CFTC for Nearly $32 Million;
http://www.cftc.gov/opa/enf06/opa5174-06.htm
March 21, 2006 Fraudulent Commodity Brokers Charles Hoffecker and Charles Myers Convicted in Commodity Scheme; CFTC Lends Assistance to the United States Attorney for the District of New Jersey in Criminal Action;
http://www.cftc.gov/opa/enf06/opa5171-06.htm
March 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;
http://www.cftc.gov/opa/enf06/opa5170-06.htm
March 17, 2006 CFTC Charges Mason, Michigan, Couple Ty and Monette Klotz and Their Aurifex Investment Companies With Hedge Fund Fraud; Alleged Fraud Affects Many in Lansing, Michigan Area;
http://www.cftc.gov/opa/enf06/opa5169-06.htm
March 15, 2006 CFTC Charges New York Firm Falco & Stevens, Inc. and its President Vyacheslav Nass with Stealing Millions in Foreign Currency Scam; US District Court Judge Freezes Defendants' Assets and Prohibits Defendants from Destroying Documents;
http://www.cftc.gov/opa/enf06/opa5166-06.htm
February 10, 2006 Los Angeles Federal Court Orders California Company and Two of its Principals to Pay $4.2 Million to Defrauded Commodity Option Customers; Chase Commodities Corp., Lee LaGorio, and Excel Obando Ordered to Pay Restitution in Fraudulent Sales Solicitation Case Brought by US Commodity Futures Trading Commission; Universal Financial Holding Corporation Also Found Liable;
http://www.cftc.gov/opa/enf06/opa5158-06.htm
February 7, 2006 CFTC Charges Florida Man And His Firm With Stealing $1.5 Million From Customers; CFTC Alleges That Defendant Lazaro Jose Rodriguez Solicited Customers By Fraudulently Promising Large Commodity Trading Profits, And Then Misappropriated Customer Funds To Buy Luxury Cars, Jewelry And Personal Items;
http://www.cftc.gov/opa/enf06/opa5157-06.htm
February 2, 2006 CFTC Finds That Commodity Trading Advisor Misled Public About Commodity Options Trading System; Respondents James R. Burgess and Optioneer Inc. Settle Charges That They Made False Website Claims About Profitability;
http://www.cftc.gov/opa/enf06/opa5156-06.htm
January 30, 2006 CFTC Charges Two Staten Island Hedge Funds And Their Principal With Stealing Millions Of Dollars In Foreign Currency Scheme; CFTC Complaint Alleges That Alexsander Efrosman, Century Maxim Fund, Inc., and AJR Capital Inc. Fraudulently Solicited Customers to Trade Foreign Currency Futures Contracts;
http://www.cftc.gov/opa/enf06/opa5153-06.htm
January 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;
http://www.cftc.gov/opa/enf06/opa5152-06.htm
January 4, 2006 CFTC Assesses Penalties of $300,000 Against Shell-Related Companies and Trader in Settling Charges of Prearranging Crude Oil Trades;
http://www.cftc.gov/opa/enf06/opa5150-06.htm






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