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Full Text of Enforcement Orders and Complaints

1999

• CFTC FILES ADMINISTRATIVE COMPLAINT AGAINST CARL DEAN DIXON, CHARGING THAT HE COMMITTED COMMODITY FRAUD AND FAILED TO REGISTER AS A COMMODITY TRADING ADVISOR; CFTC Alleges that Dixon Made Misrepresentations and Deceptive Statements and Provided False Reports in Connection With His Fraudulent Solicitation of, and Advice to, Students of His Futures Trading Course, 4350-99, December 20, 1999

• CFTC ACCEPTS SETTLEMENT OFFERS OF TODD ALAN THOMAS AND WELLINGTON FINANCIAL GROUP, INC. IN CONNECTION WITH THE FRAUDULENT SOLICITATION OF CUSTOMERS; CFTC Order Accepting Settlement Offers Finds That Thomas and Wellington Committed Fraud In Soliciting Customers To Trade Commodity Future Options, Revokes Their Registrations, and Prohibits Them From Trading; Thomas Is Required to Pay $1.9 Million in Restitution to Defrauded Customers, 4332-99, November 3, 1999

• COURT ORDERS AYM FINANCIAL CORPORATION AND ITS TWO PRINCIPALS, THOMAS M. PALEY AND ADAM S. JUECHTER, TO PAY RESTITUTION AND DISGORGEMENT TO SETTLE SUIT CHARGING FRAUDULENT SALE OF FOREIGN CURRENCY FUTURES CONTRACTS; Permanent Injunction Also Ordered Against Third Defendant, Marc Kronish, 4328-99, October 25, 1999

  • Paley and Juechter
    
  • Kronish

• CFTC FILES COMPLAINT IN HAWAII FEDERAL COURT AGAINST DAVID T. MARANTETTE, III AND TROUBADOUR, INC., CHARGING FRAUD IN SOLICITING CUSTOMERS TO INVEST IN COMMODITY POOLS AND PURCHASE COMMODITY TRADING ADVISORY SERVICES; Federal Court Enters a Consent Order of Preliminary Injunction Prohibiting Marantette and Troubadour from Engaging In Fraudulent Activities, Barring the Destruction of Documents, and Freezing the Defendants' Assets, 4327-99, October 21, 1999

• CFTC ACCEPTS SETTLEMENT OFFER OF SOUTHERN THUMB CO-OP, INC. ARISING FROM THE MARKETING OF ILLEGAL OFF-EXCHANGE AGRICULTURAL OPTIONS; CFTC Order Accepting Settlement Offer Finds Fraud In The Solicitation of Customers To Enter Into Off-Exchange Agricultural Options, 4323-99, October 7, 1999

• CFTC FILES CIVIL INJUNCTIVE ENFORCEMENT AGAINST DENVER-BASED CLAIRMONT CAPITAL CORP., AND ITS PRINCIPALS, GEOFFREY L. MANN AND CHARLES W. TRENCH, CHARGING THEM WITH FRAUD AND SELLING ILLEGAL FOREIGN CURRENCY OPTIONS; CFTC Action Charges That The Defendants Made False Representations Regarding Potential Profits and Risks; 4314-99, September 14, 1999

• CFTC OBTAINS ASSET FREEZE AND APPOINTMENT OF A RECEIVER IN CIVIL INJUNCTIVE ACTION FILED AGAINST PRINCETON GLOBAL MANAGEMENT LTD., PRINCETON ECONOMICS INTERNATIONAL LTD., AND MARTIN A. ARMSTRONG; CFTC Complaint Alleges Fraud and Failure to Register Against Commodity Pool Operators and Commodity Trading Advisors, 4312-99, September 14, 1999

• CFTC FILES ADMINISTRATIVE COMPLAINT AGAINST CARGILL INC., CHARGING THAT CARGILL OFFERED TO ENTER AND ENTERED INTO ILLEGAL AGRICULTURAL OPTION CONTRACTS; CFTC Alleges that Cargill's Premium Offer Contract Violates the Commodity Exchange Act and CFTC Regulations, 4307-99, August 26, 1999

• CFTC ACCEPTS SETTLEMENT OFFER FROM MICHAEL SINGER IN CASE INVOLVING TRADE PRACTICE FRAUD; Settlement Agreement Revokes Singer's Registration, Prohibits Him From Trading For Five Years, and Imposes a $75,000 Civil Monetary Penalty, Among Other Sanctions, 4305-99, August 23, 1999

• CFTC FILES ENFORCEMENT ACTION ALLEGING COMMODITY FUTURES AND OPTIONS FRAUD AGAINST MAX E. WALTERS; Walters Allegedly Defrauded Limited Partnership And Limited Partner Out Of $1 Million By Making Misrepresentations Concerning Profits And Misappropriating Funds, 4301-99, August 10, 1999

• CFTC FILES AN ENFORCEMENT ACTION AGAINST AND ACCEPTS OFFER OF SETTLEMENT FROM WOLCOTT & LINCOLN L.L.C. AND DAVID GIBSON; CFTC Finds That Wolcott & Lincoln, An FCM, Improperly Handled Customer Money, Violated Recordkeeping Requirements, Filed False Reports and Failed To Supervise Diligently; Gibson, As Manager of Wolcott & Lincoln, Is Also Found Liable, 4300-99, August 10, 1999

• MICHIGAN FEDERAL COURT ENTERS PERMANENT INJUNCTION AGAINST THOMAS LAMAR, OF WATERFORD, MICHIGAN, IN CFTC ENFORCEMENT ACTION CHARGING FRAUDULENT OPERATION OF A COMMODITY POOL; Court Orders Lamar to Pay Over $2.8 Million In Restitution and Disgorgement to Defrauded Customers and Permanently Bars Him from the Commodity Industry, 4299-99, August 10, 1999

• New York Court Bars Oscar A. Klitin and Klitin Associates II, L.P. from the Futures Industry and Orders Klitin to Disgorge Misappropriated Investors' Funds In CFTC Enforcement Action; Injunction Stems from a 1997 CFTC Action Charging Fraud, 4298-99, August 5, 1999

• CFTC FILES COMPLAINT IN MINNESOTA FEDERAL COURT AGAINST COMMODITY TRADING ADVISOR, PELTON STREET PUBLISHING, INC., AND ITS PRINCIPAL, ROGER MARTIN HOY, CHARGING FRAUD IN SOLICITING CUSTOMERS FOR COMMODITY TRADING COURSE; CFTC Seeks Injunctive and Other Equitable Relief, Including Disgorgement of Ill-Gotten Gains, Restitution to Defrauded Customers, and Civil Monetary Penalties, 4297-99, August 2, 1999

• CFTC ACCEPTS SETTLEMENT OFFERS OF KEVIN JACKAM, MICHAEL THOMAS AND NEW MILLENIUM PROMOTIONS IN CASE INVOLVING THE FRAUDULENT SOLICITATION OF CUSTOMERS; CFTC Finds That Jackam Committed Fraud In Soliciting Customers To Trade Options On Commodity Futures Contracts And Failed To Supervise, and That Thomas And New Millenium Failed To Supervise And Acted In An Unregistered Capacity While Operating An Introducing Broker, 4295-99, July 29, 1999

• Kevin Jackam
  

• Michael Thomas
  

• CFTC FINDS THAT JAMES L. CONNELLY, A FLOOR BROKER AT THE CHICAGO MERCANTILE EXCHANGE, IS SUBJECT TO STATUTORY DISQUALIFICATION AND ISSUES CONSENT ORDER RESTRICTING CONNELLY'S REGISTRATION, 4294-99, July 29, 1999

• CFTC FILES CIVIL FRAUD COMPLAINT IN FLORIDA FEDERAL COURT AGAINST INTRODUCING BROKER R.J. FITZGERALD & CO., INC., RAYMOND AND LEIZA FITZGERALD, AL CORINGRATO, GREG BURNETT, AND CHUCK KOWALSKI; CFTC Action Charges that the Defendants Made False Representations and Engaged in Fraudulent Acts and Practices, Including Sales Solicitation Fraud and Account Churning, 4285-99, July 8, 1999

• Merrill Lynch International, Inc. and Merrill Lynch Pierce Fenner & Smith (Brokers & Dealers), Ltd. Pay $15 Million to Settle Charges of Aiding and Abetting Manipulation of the Copper Market, 4284-99, June 30, 1999

• CFTC Files Complaint Against Kent C. Calhoun of Hunt, Texas, Alleging That He Committed Fraud in Using the CFTC's Name to Solicit Customers to Purchase His Commodity Trading Systems and Attend his Commodity Trading Seminars; CFTC Seeks Injunctive and Other Equitable Relief, Including Disgorgement of Ill-Gotten Gains, Restitution to Defrauded Customers, and Civil Monetary Penalties, 4283-99, June 29, 1999

• CFTC Accepts Settlement Offer of Selwyn "Sy" Gaiber; CFTC Settlement Order Finds that Gaiber Acted as an Unregistered CTA and Failed to Deliver Disclosure Documents and to Disclose His Past Performance Record, 4282-99, June 29, 1999

• CFTC Institutes Administrative Proceedings Against and Accepts Offer of Settlement from Ross R. Godres of Lafayette, Colorado; CFTC Finds that Godres Defrauded Investors By Concealing Losses Resulting From the Trading of Precious Metal Futures Contracts on Behalf of a Commodity Pool, and Orders Restitution to Defrauded Investors, Among Other Sanctions, 4281-99, June 28, 1999

• CFTC Files and Settles Action Against Refco, Inc. for Order-Taking and Recordkeeping Violations and for Failing to Supervise; Company Ordered to Pay $7 Million, Including $1 Million To Fund An Industry Study, And to Cease And Desist From Further Violations, and to Conduct an Internal Review Concerning Refco's Compliance Policies and Procedures, 4269-99, May 24, 1999

• CFTC Enforcement Proceeding Filed Against Global Minerals and Metals, R. David Campbell, Carl Alm, Merrill Lynch & Co., Inc., Merrill Lynch International Inc., and Merrill Lynch Pierce Fenner and Smith (Brokers & Dealers) Limited in Connection with 1995 Manipulation and Attempted Manipulation of the Copper Market; Global, Campbell, and Alm Charged in the Administrative Proceeding with Direct Participation in the Conduct; Merrill Lynch Entities Charged with Aiding and Abetting, 4265-99, May 20,1999

• CFTC Obtains Preliminary Injunctions Against All Defendants, EuroPacific Equity & Capital Management, Ltd., Tortola Corporation Company, Ltd., International Investment Group, Ltd., David Michael Loyd, and Richard Tichy, in CFTC Enforcement Action Alleging Fraud, 4264-99, May 19, 1999

• North Carolina Court Enters Documents Freeze Order in CFTC Action Charging Commodity Pool Fraud; CFTC Charges Donald Trivette of North Carolina with Defrauding Investors by Misrepresentations and Misappropriation of Investor Funds, 4255-99, April 16, 1999

• In re R&W Technical Services, CFTC Docket No. 96-3, March 16, 1999 Opinion and Order ... CFTC Issues a Decision in In re R&W Technical Services, Ltd., Gregory M. Reagan, and Dorothy Worsham, as Executrix of the Estate of Marshall L. Worsham
  
  

• CFTC Files Enforcement Action Alleging Commodity Options Fraud Against Dunhill Financial Group, Inc., Mark Hutcherson and Kevin Jackam; Respondents Allegedly Solicited Customers Over the Internet; CFTC Action Also Alleges New Millennium Promotions, Michael Thomas, and Forrest Dayton, Jr. Violated CFTC Registration Requirements, 4241-99, March 4, 1999

• CFTC Files Administrative Complaint Against Farmers Cooperative Company And Three Employees Charging Violations Of The Commodity Exchange Act And Regulations, 4230-99, January 13, 1999

• CFTC Finds That The Andersons, Inc. Of Maumee, Ohio, Offered To Enter And Entered Into Illegal Futures And Option Contracts; CFTC Order Accepting Settlement Offer Finds Convertible HTA Contracts and Option Features Contracts Violated the Commodity Exchange Act, 4229-99, January 12, 1999