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Full Text of Enforcement Orders and Complaints

2002

  • ILLINOIS MAN AND HIS FIRM CHARGED WITH SWINDLING OVER $1.4 MILLION IN COMMODITY FRAUD; CFTC Charges John Martin Lofgren and Melrose Asset Management With Fraud 4695-02, September 4, 2002  Complaint  Order

  • CALIFORNIA DEFENDANTS SETTLE CFTC COMPLAINT ALLEGING COMMODITY OPTIONS FRAUD; Madison Financial Group, LLC, and Its President and a Principal, Richard A. Cohen, Are Permanently Barred From Trading Commodity Futures and Options 4694-02, September 4, 2002  Order

  • GEORGIA CORPORATION AND TWO INDIVIDUALS CHARGED WITH FRAUDULENTLY OFFERING ILLEGAL FOREIGN CURRENCY (FOREX) FUTURES CONTRACTS; CFTC Obtains Federal Court Order Freezing Assets of Global Financial Consulting, Inc., Wook Hyun Kim, and Chang H. Lee 4693-02, September 3, 2002  Complaint  Order

  • SOUTHERN CALIFORNIA FOREIGN CURRENCY TRADING OPERATORS CHARGED WITH SELLING ILLEGAL FOREIGN CURRENCY (FOREX) FUTURES: CFTC Charges Nawab Ali Khan Ali, Mega Trend 2000, Inc., Sterling FX International LLC, and Roger Barreto, All Operating Out of Glendale, California 4692-02, September 3, 2002  Complaint  Order

  • FLORIDA RESIDENTS AND THEIR COMPANIES CHARGED WITH MISAPPROPRIATING CUSTOMER FUNDS IN FOREIGN CURRENCY (FOREX) FUTURES SCAM: CFTC Charges First Bristol Group, Inc., Alliance Equity Group, Inc., Centurion Financial Group, LC, and Great Minster Group, Inc., Staci Lee Petok, Bernard Justin Sevilla, Jack Martin Pomeroy, and Michael Desmond Biggs With Fraud 4691-02, August 29, 2002  Complaint  Order

  • UTAH COMPANY AND FOUR UTAH RESIDENTS CHARGED WITH COMMODITY POOL FRAUD; CFTC Alleges Gahma Corporation, John Garrett, Allen Andersen and Robert Heninger Fraudulently Solicited at Least $700,000 from Individuals to Trade Commodity Futures Contracts; CFTC Also Charges Stephen Brockbank, an Advisor to the Pool, with Fraud; This is the Second Fraud Action Filed by the CFTC Against Brockbank 4690-02, August 15, 2002  Complaint

  • Minnesota Federal Court Preliminarily Enjoins Foreign Currency Fraud: Defendants Sovereign Resource Management, Inc., Ken Mitra, Virgil Smith and Anthony Heppner Ordered to Account for Investor Funds 4689-02, August 8, 2002  Order

  • FEDERAL COURT APPOINTS RECEIVER TO TAKE CONTROL OF ASSETS OF MICHIGAN ATTORNEY IN COMMODITIES FRAUD CASE; The CFTC Charged Defendant Charles Mady with Issuing False False Account Statements to Hide Mounting Commodity Trading Losses and Misappropriating Investor Funds 4686-02, August 5, 2002  Order

  • CFTC CHARGES MICHIGAN RESIDENT WITH INTERNET FRAUD AS PART OF FEDERAL 'NETFORCE' INITIATIVE; Complaint Alleges Fraudulent Promotion of Internet Trading System, 4683-02, July 30, 2002  Complaint

  • CFTC FINES FORMER TRADING ADVISOR FOR HIS ROLE IN MULTI-MILLION DOLLAR FRAUDULENT ALLOCATION SCHEME; Michael Skrable Agrees to Be Prohibited From Trading and From Registration 4682-02, July 29, 2002 Order

  • CFTC ISSUES ORDER SUSPENDING AND RESTRICTING FLOOR BROKER'S REGISTRATION BASED ON EXCHANGE DISCIPLINARY PROCEEDINGS, 4680-02, July 29, 2002 Order

  • FLORIDA FEDERAL COURT ENJOINS RECIDIVIST IN ACTION ALLEGING HE MISAPPROPRIATED AT LEAST $1 MILLION IN CUSTOMER FUNDS AND VIOLATED A PRIOR FEDERAL COURT ORDER; Consent Order issued by United States District Court in Florida Enjoins Defendants Thomas D. Chilcott and Leona Westbrook from, among other things, Committing Fraud and also Permanently Bars Defendants from Commodity Trading, 4679-02, July 25, 2002 Order

  • GRENADIAN COMPANY, A CANADIAN CITIZEN, AND TWO MINNESOTA RESIDENTS CHARGED WITH COMMODITY POOL FRAUD; CFTC Alleges that Sovereign Resource Management, Inc., Ken Mitra, Virgil E. Smith, and Anthony J. Heppner Fraudulently Solicited Individuals to Trade Foreign Currency Futures Contracts and Misappropriated Over $600,000 of Investors' Funds, 4677-02, July 24, 2002   Complaint | Order

  • CFTC SUSPENDS TWO FLOOR BROKERS FOR UNLAWFULLY TRADING COFFEE FUTURES CONTRACTS; In Settlement, Joseph Defrancesco Found to Have Engaged in Fraud, Bucketing of Customer Orders, and Reporting Non-Bona Fide Prices, and Marc Greenstein Found to Have Engaged in Noncompetitive Trading, Wash Sales, and Accommodation Trades, 4676-02, July 23, 2002 Order

  • NEW YORK FOREIGN CURRENCY FIRMS CHARGED WITH FRAUDULENTLY SOLICITING OVER $15 MILLION FROM AS MANY AS 400 CUSTOMERS NATIONWIDE TO INVEST IN ILLEGAL FOREIGN CURRENCY (FOREX) FUTURES CONTRACTS; CFTC Obtains Federal Court Order Freezing Assets of Defendants International Financial Services (New York), Inc., International Financial Services (New York), LLC, John Walker Robinson, and Chan Kow Lai, 4675-02, July 22, 2002, Complaint | Order

  • FLORIDA DEFENDANTS SETTLE CFTC COMPLAINT ALLEGING FOREIGN CURRENCY (FOREX) OPTIONS FRAUD; International Currency Strategies, Inc., Strategic Trading Group, Inc., Fairfield Currency Group, Inc., and Their Officers - Daniel Phillips and Valentin Fernandez - Are Permanently Barred From Trading Commodity Futures and Options ICS Order | Fairfield Order | Strategic Order

  • COFFEE COMMODITY TRADERS BRUCE MILLER AND DEIRDRE ANDERSON CHARGED WITH FRAUDULENT TRADE ALLOCATION SCHEME; George Lamborn and Richard Lani Sr. Alleged To Have Failed to Diligently Supervise Miller and Anderson's Trading; CSCE Floor Brokers, Daniel Lipton and Kenneth Lawson, Charged With Failing to Obtain Required Customer Account Identification, 4671-02, July 15, 2002, Complaint

  • FLORIDA WOMAN AND COMPANY SETTLE CFTC CHARGES ALLEGING THEY FRAUDULENTLY MARKETED COMMODITY TRADING SYSTEMS; CFTC Imposed Trading Bans and Penalties on Bernadette Flavell and Systems of Success - Window to Profit (SOS), 4668-02, July 11, 2002, Order

  • SIX COFFEE, SUGAR & COCOA EXCHANGE FLOOR BROKERS CHARGED BY CFTC WITH UNLAWFULLY TRADING COFFEE FUTURES; Carmelo Contrino, Robert Disarro, Joseph Gugliaro, and Persio Paulino Charged with Fraud, Bucketing of Customer Orders, Wash Sales and Accommodation Trades, Non-Competitive Trading, and Reporting Non-Bona Fide Prices; William Overland and John Joyce Charged with Wash Sales and Accommodation Trades, Non-Competitive Trading, and Reporting Non-Bona Fide Prices, 4667-02, July 9, 2002 Complaint

  • CALIFORNIA COMMODITY TRADER CHARGED WITH UNAUTHORIZED TRADING, UNLAWFULLY OPERATING A COMMODITY POOL AND ILLEGALLY MANAGING TRADING ACCOUNTS; CFTC Files Complaint Against Donald Steven Smith and His Company, Fibit.com, in Federal District Court, 4660-02, June 24, 2002 Complaint

  • FLORIDA MAN SETTLES CHARGES ALLEGING HE FRAUDULENTLY MARKETED COMMODITY TRADING SYSTEMS; CFTC Bars Kevin Kates From Trading, 4657-02, June 17, 2002 Order

  • MICHIGAN ATTORNEY CHARGED WITH $6 MILLION COMMODITIES FRAUD; Federal Government Alleges that Charles Mady Issued False Account Statements to Hide Mounting Commodity Trading Losses and Misappropriated Over $1 Million, 4655-02, June 12, 2002 Complaint | Order

  • MARYLAND MAN AND FIRM SETTLE CHARGES OF FRAUD WITH CFTC; Consent Order issued by District Court Enjoins Defendants Peter Scott and Rothlin & Windsor Capital Management, Inc. from Committing Fraud and also Permanently Bars Defendants from trading in futures and options, 4654-02, June 12, 2002 Order

  • FLORIDA, LOUISIANA AND GEORGIA FIRMS CHARGED WITH FRAUDULENTLY SOLICITING OVER $1,000,000 FROM CUSTOMERS TO INVEST IN ILLEGAL FOREIGN CURRENCY (FOREX) OPTION CONTRACTS; Government Obtains Federal Court Order Freezing Assets of 19 Individuals and Companies; Related Action Also Filed by Louisiana Attorney General, 4652-02, June 10, 2002. Offshore Complaint | Offshore Order

  • COMMODITY FUTURES TRADING COMMISSION FILES FEDERAL ACTION AGAINST FLORIDA MAN FOR PROVIDING FALSE INFORMATION RELATED TO HIS $6.8 MILLON SETTLEMENT WITH THE COMMISSION; Federal Court Freezes Assets, Books and Records of Defendant David Alan Luger, 4651-02, June 5, 2002. Luger Complaint | Luger Order

  • CFTC SETTLES WASH SALES CHARGES AGAINST TEXAS BROKER RONALD ROESLER AND ILLINOIS BROKER DAVID JANSON ARISING OUT OF USDA DAIRY OPTIONS PILOT PROGRAM; 4645-02, May 22, 2002. Roesler Order | Janson Order

  • FLORIDA FEDERAL COURT REQUIRES DEFENDANTS MICHAEL A. DIPPOLITO; MAD, INC.; AND CTU, INC. TO PAY RESTITUTION TO DEFRAUDED CUSTOMERS IN CFTC ENFORCEMENT ACTION; Court's Order Also Bars Defendants From Further Fraudulent Conduct and From Trading Commodity Futures or Options, 4641-02, May 15, 2002. MAD Order

  • TEXAS COMMODITY TRADER CHARGED WITH DEFRAUDING CUSTOMERS AND MISAPPROPRIATING CUSTOMER FUNDS; CFTC Charges Dewey V. Wiles and His Company, Futures Exchange Company, Inc., with Fraudulently Soliciting Funds to Trade Commodity Futures, 4639-02, May 8, 2002. Wiles Complaint

  • CFTC CHARGES UTAH INVESTMENT FIRM WITH RUNNING A $14.7 MILLION FOREIGN CURRENCY (FOREX) PONZI SCAM; Federal Court Immediately Freezes Assets of 4NExchange, LLC, Paul Grant and Ronald Bassett In Related Action, 4636-02, May 2, 2002. 4NExchange Order

  • U.S. GOVERNMENT AGENCY SETTLES FRAUD CASE AGAINST GEORGIA COMMODITY TRADING ADVISOR WHO WAS A REPEAT OFFENDER; Defendant Ellery Coleman Ordered to Pay a Penalty of up to $170,000, 4634-02, April 29, 2002. Coleman Order

  • TEXAS COMMODITY BROKER COMMITTED SOLICITATION FRAUD; In CFTC Action, D. Michael Sheaves Fined $50,000 and Ordered to Pay Restitution for Fraudulently Failing to Advise Prospective Clients of Significant Trading Losses, 4633-02, April 23, 2002. Decision on Default

  • CFTC SETTLES COMMODITY FRAUD SOLICITATION CASE AGAINST CALIFORNIA TRADING SYSTEM DEVELOPER; Defendant Abdullah Alsafari Barred from Further Fraudulent Conduct in Violation of Federal Commodities Laws, 4629-02, April 9, 2002   Alsafari Order

  • FLORIDA COMMODITY TRADING SYSTEM DEVELOPER AND NEW YORK PUBLISHER SETTLE CFTC FRAUD ACTION; CFTC Finds that George Angell, TradeWins Publishing and its President, Stephen Schmidt, Fraudulently Marketed Commodity Trading System, 4628-02, April 4, 2002.   Angell Order | TradeWins Order

  • CFTC SETTLES FRAUD ACTION AGAINST WEST VIRGINIA COMMODITY POOL OPERATOR; Defendants Robert L. Dormagen and Delta Financial Corporation Permanently Barred From Trading Futures or Options, 4624-02, March 21, 2002.  Dormagen Order

  • CFTC SETTLES CHARGES AGAINST MINNESOTA DEFENDANTS IN COMMODITY POOL FRAUD CASE; Leonard Nauman and His Two Companies, Pension America, Inc., and Futures Profit Making, LLC, Are Permanently Barred From Trading For Others, 4623-02, March 21, 2002.  Pension America Order

  • LOS ANGELES COMMODITY TRADER SETTLES CFTC FRAUD ACTION; Alfred Gladstone Ordered to Pay Up To $171,000 in Restitution and Civil Monetary Penalty Pursuant to Payment Plan and Agrees Never to Seek CFTC Registration, 4622-02, March 20, 2002.  Gladstone Order

  • CFTC FILES ENFORCEMENT ACTION AGAINST FOUR CSCE FLOOR BROKERS, CHARGING THEM WITH UNLAWFULLY TRADING COFFEE FUTURES; Joseph Defrancesco, Ronald Kilbride, and Brian Thornton Charged with Fraud, Bucketing of Customer Orders, and Reporting Non-Bona Fide Prices; Defrancesco, Kilbride, Thornton, and Marc Greenstein Also Face Charges of Noncompetitive Trading, Illegal Wash Sales, and Accommodation Trades, 4621-02, March 20, 2002.   Coffee Complaint

  • CALIFORNIA COMMODITY TRADER CHARGED WITH MISAPPROPRIATING MORE THAN $500,000 IN CUSTOMER FUNDS AND VIOLATING PRIOR COMMISSION ORDER; CFTC Charges Mark Ross Weinberg With Fraudulently Soliciting Funds to Trade Commodity Futures; Federal Court Freezes Assets and Bars Destruction of Books and Records, 4619-02, March 18, 2002  Weinberg Complaint | Weinberg Order

  • FLORIDA COMMODITY TRADER CHARGED WITH MISAPPROPRIATING AT LEAST $1 MILLION IN CUSTOMER FUNDS AND VIOLATING PRIOR FEDERAL COURT ORDER; CFTC Charges Thomas Chilcott, Ted Whidden, and Leona Westbrook With Fraudulently Operating Commodities Trading Business Known As Trade Master of Southwest Florida; Federal Court Freezes Assets and Bars Destruction of Books and Records, March 11, 2002  Chilcott Complaint | Chilcott Order

  • In the matter of George Angell.  Order Instituting Proceedings Pursuant to Sections 6(c) and 6(d) of the Commodity Exchange Act, Making Findings and Imposing Remedial Sanctions. CFTC Docket No. 02-08, March 6, 2002

  • FORMER CHIEF OPERATING OFFICER OF A COMMODITY FIRM SETTLES CFTC ACTION CHARGING SUPERVISORY FAILURES; CFTC Finds That Mark Vaughn Failed To Supervise Diligently The Handling Of Foreign Customer Accounts, February 25, 2002 Vaughn Order

  • FLORIDA COMMODITY TRADING ADVISORS SETTLE CFTC FRAUD ACTION; Defendants Fred and Jeanne Monte Permanently Banned From Trading Futures or Options, February 12, 2002 Fred Monte | Jeanne Monte

  • COMMODITY TRADER AND TWO MICHIGAN COMPANIES CHARGED WITH $2.9 MILLION FRAUD; GOVERNMENT ALLEGES FICTITIOUS TRADING; Federal Court Freezes Assets and Bars the Destruction of Books and Records, February 11, 2002 Complaint | Statutory Restraining Order

  • NEW YORK COMMODITY BROKER CHARGED WITH ILLEGAL TRADING AND VIOLATION OF A COMMISSION ORDER; CFTC Alleges Branch Manager Patrick Ligammari Engaged in Non-Competitive Trading To Facilitate the Transfer of Over $300,000 Between Two Foreign Accounts, February 11, 2002 Complaint | Exhibit A - 1990 Order | Exhibit B

  • CFTC SETTLES CASE AGAINST CHICAGO FIRM AND ITS MANAGING DIRECTOR; CFTC finds that Excellent USA and John Gallwas Failed to Supervise the Handling of Foreign Omnibus Accounts; CFTC Revokes Registration of Excellent USA as a Result of the Criminal Conviction of One of its Principals, February 4, 2002 Excellent | Gallwas

  • Internet Trading System Promoter Charged With Commodity Fraud; CFTC Alleges Michael Radcliffe Made False Claims Concerning Profits Generated By His Commodity Trading System, 4597-02, January 15, 2002. Complaint


2001

  • Ohio Commodity Trader Settles Pool Fraud Action; Consent Order with Government Regulator Finds that Defendant Jeffrey T. Bailey Committed Fraud By Diverting Investor Funds For His Own Use and Permanently Bars Him from Futures and Options Trading, 4592-01, December 20, 2001. [PDF File]

  • REPUBLIC NEW YORK SECURITIES CORPORATION PAYS $5 MILLION CIVIL MONETARY PENALTY FOR MISLEADING INVESTORS IN COMMODITY FRAUD; CFTC Files and Settles Action Against Republic for Its Role in a Ponzi Scheme That Defrauded Investors World-Wide and Resulted in Losses of Over $700 Million, 4590-01, December 17, 2001. [PDF File]

  • Commodity Trading Advisor Settles Government Fraud Charges; CFTC Orders Nicholas J. Nickolaou to Pay Restitution and Penalties For Fraudulently Soliciting the Public to Buy His "Wisdom of the Ages" Trading System , 4586-01, November 20, 2001. [PDF File]

  • CFTC Seeks to Suspend or Restrict Registration of Midland Euro, Inc. of California; Midland Euro's Membership With the National Futures Association Was Recently Suspended, 4585-01, November 19, 2001. [PDF File]

  • CFTC Settles Fraud Case Against Commodity Trading Advisors; CFTC Finds that Currency Trading Systems, its President, Joyce Roeder, and Others Fraudulently Solicited the Public to Attend Commodity Trading Seminars; CFTC Imposes Permanent Trading Ban on Roeder and Company and Orders Payment of Restitution and Penalties, 4583-01, November 6, 2001. [PDF File]

  • New York Trader Sued for Defrauding Employer; CFTC Files and Settles Action Against Robert Ryan and Permanently Bans Him from Futures Trading and Fines Him $40,000, 4580-01, October 31, 2001. [PDF File]

  • CFTC Charges Clay Krhovjak and Paul Cochran in Fraudulent Allocation Scheme, 4577-01, October 29, 2001. [PDF File]

  • Colorado Man Banned For Unauthorized Commodity Trading; CFTC Imposes Trading Ban on Dale Luther Mock, 4574-01, October 10, 2001.[PDF File]

  • CFTC Charges Texas Commodity Broker with Fraud; CFTC Alleges that D. Michael Sheaves Fraudulently Omitted Significant Trading Losses, 4573-01, October 1, 2001. [PDF File]

  • Iowa Commodities Speculator Settles Government Charges; CFTC Bans Frederick Mersch From Trading For Two Years For False Reporting and Exceeding Trading Limits on Frozen Pork Belly Futures, 4566-01, September 4, 2001. [PDF File]

  • Canadian Resident and His Offshore Company Charged with Defrauding U.S. and Canadian Investors Through A Commodity Scam; CFTC Alleges That Defendants Andrew Duncan and Aurum Society, Inc. Operated "Ponzi" Scheme and Fraudulently Obtained Over $3 Million from Customers; Defendants also Alleged to have Misappropriated Funds, 4565-01, September 4, 2001.

  • Complaint [PDF]

  • Order [PDF]

  • CFTC Charges Los Angeles Commodity Broker with Fraud; CFTC Alleges that Broker Alfred Gladstone Fraudulently Claimed That He Had Made Millions In Profits When In Fact, His Customers His Customers Had Net Losses Of Over $1 Million; Although 99% Of His Customers Lost Money, Broker Told Them That Their Investments Were "a Sure Bet", 4564-01, September 4, 2001. [PDF File]

  • CFTC's Latest Action Part of Nationwide Crackdown on Foreign Currency (Forex) Scams; Complaint Charges Defendants with Defrauding U.S. and Canadian Citizens; Telemarketers Used High-Pressure Sales Tactics to Solicit Customers, 4563-01, August 28, 2001.

  • Complaint [PDF]

  • Order [PDF]

  • Georgia Defendants Settle Commodity Fraud Charges; CFTC Permanently Bans James E. Stephens, III, and Trendsystems, Inc. from Trading on Behalf of Others, 4562-01, August 28, 2001.

  • Notice [PDF]

  • Consent Order [PDF]

  • Settlement [PDF]

  • Avista Energy, Inc. Ordered to Pay $2.1 Million to Settle CFTC Charges of Manipulating Electricity Futures; Former Company Officers and Employees and NYMEX Floor Broker also Charged with Manipulation, 4555-01, August 21, 2001.

  • Avista Complaint [PDF]

  • Avista - Thomas Johns Speaking Order [PDF]

  • Avista - Speaking Order [PDF]

  • CFTC Files Enforcement Actions Against Los Angeles-Based Firms Selling Illegal Foreign Currency (FOREX) Investments to the Retail Public; Acro Information Service, Inc., Pakco Holdings Limited and Dr. Florentius Chan Charged with Committing Fraud; Acro's Customers were Members of Asian and Other Ethnic Communities; In the Second Action, Fintrex, Inc., Arman Ovsepyan, and Lytresse Fox Are Charged with Offering Illegal Off-Exchange Forex Futures Contracts, 4551-01 August 14, 2001.

  • ARCO [PDF]

  • FINTREX [PDF]

  • CFTC Charges Maryland Man and His Company With Defrauding 600 Investors in a Commodity Pool; CFTC Alleges That Defendants Peter Scott and R&W Capital Management, Inc. Fraudulently Solicited Over $2 Million from Investors and Misappropriated Investor Funds For Personal Use, 4549-01, August 7, 2001.

  • Complaint [PDF]

  • Order [PDF]

  • CFTC Charges Chicago Area Residents with Fraudulent Promotion of Pork Belly Trading System; According to the Complaint, a Year's Worth of Service Cost $4,500 and Ads Touted that Customers Could Have Made as Much as 700%, Release 4545-01, July 18, 2001.

  • Global Telecom [PDF File]

  • Global Telecom - Pennings [PDF File]

  • COLORADO MAN SUED FOR FAILING TO TELL CUSTOMERS HIS COMMODITY TRADING SYSTEM WAS BASED ON HYPOTHETICAL TRADES; Gramalegui Made False Claims that his Mother Profitably Traded with his System, 4544-01, July 12, 2001. [PDF File]

  • CFTC Files and Settles Enforcement Action Against a Chicago Floor Broker for Failing to Supervise a Trader He Sponsored; CFTC Finds that Michael Thomas Lee Violated an Order and Sponsor Agreement and Suspends His Registration; Order Underscores Need For Sponsors To Take Duties Seriously Release, 4543-01, July 12, 2001. [PDF File]

  • Former Member of New York Futures Exchange Charged with Price Manipulation and False Representations; CFTC Charges Norman Eisler and First West Trading with Manipulating Settlement Prices of Option Contract and Making False Representations, 4542-01, July 11, 2001.

  • Eisler [PDF File]

  • NYFE [PDF File]

  • MINNESOTA AND WISCONSIN DEFENDANTS BARRED FROM U.S. FUTURES MARKETS BY FEDERAL COURT FOR COMMODITY SCAM; Two Individuals and Three Companies Must Pay Up to $561,452 in Restitution and Up to $671,452 in Civil Fines, Release 4539-01, July 5, 2001.

  • Kirris [PDF File]

  • Relf [PDF File]

  • CFTC SETTLES CASE AGAINST COMMODITY FIRM FOR FRAUDULENT ADVERTISING; Federal Regulator Finds that CTS Financial Publishing and Others Used Over One Million Mailings and the Internet to Fraudulently Tout the Potential for Large Profits, Release 4538-01, July 5, 2001. [PDF File]

  • CFTC SETTLES CASE AGAINST KENTUCKY MAN FOR FRAUDULENTLY SELLING COMMODITY TRADING SYSTEM; Federal Regulator finds that Donald M. Fishback, Jr. Represented to Investors that his Company's Trading System Could "Virtually Eliminate Losing Trades," Release 4537-01 , July 2, 2001. [PDF File]

  • CFTC FILES AND SETTLES FRAUD ACTION AGAINST COMMODITY TRADER WHO CLAIMED TO MAKE "A KILLING"; Connecticut-Based Harvey T. Gilkerson Fraudulently Solicited Commodity Investments and Misappropriated Investor Funds, Release 4536-01, June 29, 2001. [PDF File]

  • CFTC FILES ACTION AGAINST CALIFORNIA RESIDENT FOR VIOLATING EXCHANGE TRADING LIMITS; CFTC Alleges that Andy Saberi Violated the Trading Limits For Pork Belly Futures Set by the Chicago Mercantile Exchange, 4533-01 (CFTC Docket 01-11), June 26, 2001. [PDF File]

  • Maine Resident Charged with Defrauding Over 200 Investors; CFTC Alleges that Edward W. Knipping and Time Traders, Inc. Fraudulently Operated a $5.9 Million Commodity Pool and Misappropriated Investor Funds, 4529-01, June 21, 2001 [PDF File]

  • OHIO COMMODITY COMPANIES CHARGED WITH OFFERING PHONY INVESTMENTS; CFTC Alleges that Two Ohio Firms-- International Monetary Group, Inc. and Currency Management Group, Inc.--and Three Ohio Residents - Anthony Dellarciprete, Emido Dellarciprete, and James Lemmon -- Fraudulently Solicited the Retail Public to Invest in Illegal Foreign Currency Options (FOREX), 4528-01, June 20, 2001 [PDF File]

  • CFTC CHARGES FLORIDA COMMODITY FIRM WITH FRAUD; CFTC Alleges That First Investors Group of the Palm Beaches Used Fraudulent Infomercial and Sales Pitches To Solicit Customers, 4527-01, June 19, 2001 [PDF File]

  • CFTC CHARGES LA COMMODITY FIRM WITH FRAUD; CFTC Alleges That Madison Financial Group Told Salesmen To "Make Up A Story" To Solicit Customers, 4523-01, June 6, 2001 [PDF File]

  • FLOOR BROKER -- MICHAEL H. VARNER -- CHARGED WITH VIOLATING A 1999 CFTC ORDER; FOREX: The Commodity Futures Trading Commission (CFTC) announced today that on May 31, 2001, it filed an enforcement action against Michael H. Varner (Varner) of Memphis, Tennessee, charging him with violating a CFTC order issued against him in June 1999. Under the terms of the CFTC order, the filing of the complaint against Varner triggered an automatic suspension of his registration as a floor broker, 4522-01, June 4, 2001. [PDF File]

  • WISCONSIN RESIDENT MICHAEL JAMES KONKEL BARRED FROM TRADING COMMODITY INVESTMENTS IN CFTC FRAUD CASE; Alabama Federal Court Requires Defendant Konkel to Make Restitution of $790,000 to Defrauded Investors and Pay a Civil Fine of Up to $440,000 and Bars Him From Registering with the CFTC, 4518-01, May 22, 2001. [PDF File]

  • CFTC FILES ENFORCEMENT ACTIONS AGAINST FIRMS FRAUDULENTLY SELLING ILLEGAL FOREIGN CURRENCY (FOREX) OPTIONS; In Two Separate Actions, CFTC Charges (1) the ICS Common Enterprise (three Florida companies) and Three Individuals - Valentin Fernandez, Daniel Phillips, and Manny Kavekos of Florida; and (2) Infinite Trading Group, L.L.C., a Georgia Forex Firm, along with Shawn Christie, Edward Cameron Lindsey and Anthony Garcia of Georgia, 4513-01, May 2, 2001.

  • ICS Complaint [PDF File]

  • ITG Complaint [PDF File]

  • CFTC SETTLES FRAUD ACTION AGAINST COMEX FLOOR BROKER TIMOTHY MURPHY, 4512-01, April 30, 2001 [PDF File]

  • CFTC CHARGES SUNSTATE FX, INC. AND ULRICH GARBE OF BOCA RATON, FLORIDA, WITH FRAUD IN CONNECTION WITH THE SOLICITATION OF INVESTORS TO TRADE FOREIGN CURRENCY (FOREX) CONTRACTS; Complaint Alleges that SunState and Garbe Fraudulently Operated a Commodity Pool and Illegally Offered Foreign Currency Options to the Retail Public; Court Enters Ex Parte Restraining Order Against the Defendants on the Same Day the Complaint is Filed, 4508-01, April 19, 2001 [PDF File]

  • CFTC CHARGES JEFFREY T. BAILEY OF AMELIA, OHIO, AND JMK CAPITAL MANAGEMENT, INC. WITH COMMODITY POOL FRAUD, 4507-01, April 12, 2001 [PDF File]

  • UTAH FEDERAL COURT ENTERS CONSENT ORDER OF PERMANENT INJUNCTION AGAINST MARK AND STEVE SCHENK FOR THEIR PARTICIPATION IN A FRAUDULENT COMMODITY POOL SCHEME; The Consent Order Requires Mark and Steve Schenk to Pay Restitution and Disgorgement and Permanently Bars Them From Trading Commodity Futures and Options For Others and From Seeking Registration with the CFTC. [PDF File]

  • FLORIDA DISTRICT COURT ISSUES FINAL ORDER OF JUDGMENT AGAINST NATIONAL BULLION AND COIN, INC., CAPITAL CREDIT MANAGEMENT & FINANCE, INC., JOSEPH B. FLANIGAN, AND LAWRENCE COLMAN; Order Requires Defendants to Pay in Excess of $12 Million in Restitution and Civil Monetary Penalties in Case Involving the Fraudulent Marketing of Illegal Precious Metals Futures Contracts, 4504-01, April 4, 2001 [PDF File]

  • CFTC SETTLES ENFORCEMENT ACTION AGAINST ISAAC FLEYSHMAKHER FOR COMMODITY POOL FRAUD; CFTC Order Finds that Fleyshmakher Made Fraudulent Solicitations and Engaged in Unauthorized Trading and Misappropriation of Funds in Connection with His Operation of New Frontier and New Millennium Commodity Pools; Order Requires Him to Pay Restitution to Defrauded Investors, Among Other Sanctions, 4503-01, April 4, 2001 [PDF File]

  • U.S. DISTRICT COURT IN CALIFORNIA ISSUES ORDER ENJOINING RABB SABIN AND ART SMITH FROM FRAUDULENTLY SOLICITING CUSTOMERS TO SUBSCRIBE TO THEIR WEBSITE -- www.the-cash-nursery.com - THAT TOUTED THEIR PURPORTEDLY PROFITABLE COMMODITY OPTIONS TRADING METHODOLOGY; Defendants Are Ordered To Pay Restitution of $384,771.25 and Civil Monetary Penalties Totaling $100,000. Order for Permanent Injunction [PDF File]

  • CFTC ACCEPTS SETTLEMENT OFFER OF FORMER BRANCH MANAGER DARRYL M. OSLER IN CASE INVOLVING THE FRAUDULENT SOLICITATION OF CUSTOMERS TO INVEST IN COMMODITY OPTIONS; Osler Agrees Never to Seek Registration or Exemption From Registration with the CFTC or Otherwise Engage in Activities Requiring Registration or Exemption from Registration, 4491-01, February 15, 2001. [PDF File]

  • FEDERAL COURT ENTERS CONSENT ORDER OF PERMANENT INJUNCTION AGAINST ANTHONY HOLT FOR HIS INVOLVEMENT IN A FRAUDULENT COMMODITY POOL SCHEME; Holt is Permanently Barred from the Futures Industry and Agrees to Pay Civil Penalty, 4488-01, February 5, 2001.

  • CFTC FILES ENFORCEMENT ACTIONS AGAINST FOUR COMEX FLOOR BROKERS, CHARGING THEM WITH FRAUDULENTLY EXECUTING GOLD OPTIONS TRADES, AMONG OTHER VIOLATIONS OF FEDERAL COMMODITIES LAW; CFTC Accepts Offers of Settlement from Paul Merolla and Philip Selby and Files An Administrative Complaint Against Timothy Murphy and Vincent Coppola, 4487-01, January 10, 2001.

  • Vincent Coppola and Timothy Murphy Complaint - with Appendices [PDF File]

  • Paul Merolla and Philip Selby Order - with Appendices [PDF File]

  • CFTC FILES AND SETTLES ENFORCEMENT ACTION AGAINST FORMER GRIFFIN TRADING COMPANY CHIEF FINANCIAL OFFICER, SCOTT N. SZACH; CFTC Finds that Szach Failed to Supervise Griffin's London Branch Office, Filed False Reports, and Committed Segregation and Recordkeeping Violations in Connection with His Unauthorized Trading, 4486-01, January 8, 2001.


2000

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Securities Fraud Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc.

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