Recent Enforcement Action Press Releases, Complaints and Orders

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May

Commodity Software Vendor Charged with Violating CFTC Order; Defendant Richard Swannell Sold His Elliott Wave Analyzer Software Programs Through His Website, 4789-03, May 21, 2003.
CFTC CLAIMS MCGRAW-HILL COMPANIES FLOUTED FEDERAL AGENCY SUBPOENAS; Commodity Regulator Asks US District Court for Order Requiring McGraw-Hill To Provide Documents Demanded By Energy Investigation Subpoenas, 4788-03, May 20, 2003.
PORTLAND, OREGON, FOREIGN CURRENCY FIRM, ITS PRESIDENT, AND OTHERS CHARGED WITH STEALING MORE THAN $9 MILLION IN CUSTOMER FUNDS; CFTC Obtains Federal Court Order Freezing Assets of Orion International, Inc. and Several Individuals; Defendants Allegedly Fraudulently Solicited at Least $27 Million from Customers, 4787-03, May 14, 2003.
CFTC CHARGES REDONDO BEACH, CALIFORNIA COMMODITY TRADING ADVISOR WITH FRAUD, 4786-03, May 14, 2003.
TEXAS COMMODITY TRADER SETTLES CFTC CHARGES OF DEFRAUDING CUSTOMERS AND STEALING CUSTOMER FUNDS; CFTC Order Requires That Garland Resident Dewey V. Wiles Pay Restitution to Customers, 4785-03, May 7, 2003.
FLORIDA MAN FOUND IN CIVIL CONTEMPT OF PAYMENT ORDER IN CFTC ANTI-FRAUD ACTION; Federal Court Orders Marc Wuensch to Pay $250,000 Now, Followed by Monthly Payments of $1,500, to Avoid Prison, 4784-03, May 7, 2003.
CFTC REVOKES REGISTRATIONS OF TWO INDIANA BROKERS, 4783-03, May 7, 2003.
FLOOR BROKERS SETTLE CHARGES OF UNLAWFULLY TRADING CATTLE FUTURES; CFTC Finds that Ronald M. Schiller, aided by Eugene J. Chesrow, Engaged in a Wide Variety of Trading Schemes that Cheated Customers, 4781-03, May 1, 2003.

April

CFTC CHARGES ST. PETERSBURG, FLORIDA, COMPANY AND RESIDENT WITH DEFRAUDING CUSTOMERS IN FOREIGN CURRENCY (FOREX) OPTIONS SCAM, 4781-03, April 29, 2003.
CFTC SETTLES RECORDKEEPING CHARGES WITH CARR FUTURES INC.; CFTC Alleges that Carr Futures Failed to Retain and Produce Cancelled and Unfilled Floor Orders, 4780-03, April 29, 2003.
S&P TRADER BRIAN RAY CHARGED WITH FRAUD, 4779-03, April 29, 2003.
WALL STREET UNDERGROUND, INC. AND OTHERS CHARGED WITH FRAUDULENTLY PROMOTING COMMODITY TRADING SYSTEMS; CFTC Charges Kansas City Commodity Promoters With Making False Claims and Guarantees to Customers; At Least 1000 People Invested in the Multimillion-Dollar Scam, 4778-03, April 25, 2003.
CALIFORNIA COMPANY AND TWO CALIFORNIA RESIDENTS CHARGED WITH COMMODITY POOL FRAUD; CFTC Charges California Corporation and Two Employees With Fraud in Commodity Investment Scam, 4777-03, April 21, 2003.
FEDERAL COURT ORDERS GEORGIA FOREIGN CURRENCY FIRM AND ITS PRESIDENT TO REPAY CUSTOMERS IN CFTC FRAUD ACTION; Infinite Trading Group, LLC. and Anthony Garcia Also Ordered to Pay $660,000 Civil Penalty, 4776-03, April 14, 2003.
CHICAGO MAN ORDERED TO PAY PENALTY FOR FRAUDULENTLY PROMOTING A COMMODITY TRADING SYSTEM, 4775-03, April 14, 2003.
GEORGIA FEDERAL COURT ORDERS ATLANTA FOREIGN CURRENCY FIRM AND ITS CHIEF EXECUTIVE OFFICER TO PAY BACK $662,000 TO DEFRAUDED INVESTORS; Order Also Imposes Civil Penalty of $1.7 Million On Samuel Daley and Advent Capital Partners, Ltd., 4774-03, April 14, 2003.
CFTC Obtains Federal Court Order Freezing Assets of Defendant U.S. Securities & Futures Corp., 4773-03, April 9, 2003.
NEW YORK FOREIGN CURRENCY (FOREX) FIRM CHARGED WITH DEFRAUDING 230 INVESTORS OF $6.4 MILLION; CFTC Charges Holston, Young, Parker & Associates, Conetto Holding Company, Ltd, and Holsten's President With Commodity Scam Using Offshore Banks, 4771-03, April 8, 2003.
SAN FRANCISCO FOREIGN CURRENCY FIRM AND ITS PRESIDENT CHARGED WITH DEFRAUDING 200 CUSTOMERS; CFTC Obtains Federal Court Order Freezing Assets of Defendants DBS Capital Inc. and Douglas Stevens, 4770-03, April 8, 2003.
CFTC SETTLES FOREIGN CURRENCY FRAUD CHARGES WITH CALIFORNIA AND OHIO RESIDENTS; Federal Court Orders Five Defendants To Pay $3.5 Million To Customers in Australia, New Zealand, and the United States, 4769-03, April 3, 2003.
CFTC SETTLES FRAUD ACTIONS AGAINST THREE DEFENDANTS INVOLVED WITH INDIANA COMMODITY POOL; Court Orders Defendants David G. Johnson, Thomas T. Miller and Geoffrey M. Eltzroth to Pay More Than $11 million for Their Violations Arising from a Ponzi Scheme, 4768-03, April 2, 2003.

March

UTAH MAN CHARGED WITH DEFRAUDING CUSTOMERS OF MORE THAN $300,000 IN FOREIGN CURRENCY (FOREX) TRADING SCHEME; CFTC Obtains Federal Court Order Freezing Assets of Defendants Bryan Hawker and G, Hawker & Stone, LLC, 4767-03, March 27, 2003.
CFTC SUES NATURAL GAS TRADER FOR FRAUD; Christopher Chapman Ordered to Pay $240,000 in Penalties, Among Other Sanctions, 4766-03, March 26, 2003.
EL PASO TRADING UNIT AGREES TO PAY $20 MILLION TO SETTLE CFTC CHARGES OF ATTEMPTED MANIPULATION AND FALSE REPORTING; El Paso Merchant Energy, L.P. Settles Claims Under the Commodity Exchange Act That It Intentionally Reported False Natural Gas Price and Volume Information to Energy Reporting Firms in an Attempt to Affect Prices of Natural Gas Contracts, 4765-03, March 26, 2003.
MICHIGAN MAN ORDERED TO PAY $6.3 MILLION TO CUSTOMERS DEFRAUDED IN COMMODITY FUTURES INTERNET SCAM; Federal Court Orders Defendants to Refund Investments to 900 Customers, 4764-03, March 20, 2003.
CFTC CHARGES ENRON WITH PRICE MANIPULATION AND OTHER ILLEGAL ACTS; Enron and Former Enron Vice President Charged With Manipulating Prices in Natural Gas Market; Enron Charged Further With Operating an Illegal, Undesignated Futures Exchange and Offering Illegal Lumber Futures Contracts Through Its Internet Trading Platform, 4762-03, March 12, 2003.

February

FRAUDULENT PRECIOUS METALS DEALERS INDICTED AND ARRESTED IN COMMODITY SCHEME; CFTC Lends Assistance to the United States Attorney for the District of New Jersey in Criminal Action for Defrauding Investors, 4758-03, February 26, 2003.
CALIFORNIA FIRM AND ITS TWO PRINCIPALS CHARGED WITH FOREIGN CURRENCY (FOREX) SWINDLE; Government Files Lawsuit Against EuroBancorp, Inc., Paris DeLesseppes, and John Lassen for Fraud; Further Charges are Brought Against EuroBancorp and Global Interbank, Inc. for Offering and Selling Illegal, Off-Exchange Foreign Currency Futures Contracts, 4756-03, February 13, 2003.
SOUTHERN CALIFORNIA FOREIGN CURRENCY (FOREX) OPERATORS CHARGED WITH FRAUD; Local Foreign-Language Newspapers and Internet Used to Advertise Scam, 4755-03, February 13, 2003.
CFTC & FEDERAL CRIMINAL LAW ENFORCEMENT OFFICERS GATHER FOR COOPERATIVE ENFORCEMENT MEETING FOCUSED ON THE ENERGY MARKETS; CFTC's Division of Enforcement Shares Investigative Experiences with Colleagues from the President's Corporate Fraud Task Force, 4754-03, February 13, 2003.
FLORIDA FOREIGN CURRENCY FIRM AND OTHERS CHARGED WITH FRAUD; CFTC Obtains Federal Court Order Freezing Assets of Defendants InterTrade Forex, Inc., Stanley Craig Wakefield and Pritesh Patel, 4753-03, February 11, 2003.
TEXAS RESIDENT CHARGED WITH SWINDLING MILLIONS FROM INVESTORS AND SPENDING MONEY ON GAMBLING, JEWELRY, AND AUTOMOBILES; CFTC Charges John A. Wheeler and His Companies with Fraudulent Solicitation and Misappropriation in Connection with Purported Foreign Currency Trading; Court Enters Preliminary Injunction Against Defendants, Freezing Their Assets, Among other Sanctions, 4750-03, February 5, 2003.
FLOOR BROKER SETTLES CHARGES OF UNLAWFULLY TRADING COFFEE FUTURES; CFTC Finds that Ronald Kilbride Engaged in Fraud, Bucketing of Customer Orders and Reporting Non-Bona Fide Prices, Noncompetitive Trading, Wash Sales and Accommodation Trades, 4749-03, February 4, 2003.

January

FEDERAL COMMODITIES ENFORCER CHARGES SALT LAKE CITY ATTORNEY DONALD J. PURSER WITH FRAUD; Utah Federal Court Permits CFTC to Add Parties and Expand Allegations in Existing Commodity Pool Fraud Case, 4746-03, January 29, 2003.
CFTC ESTABLISHES TOLL-FREE COMPLAINT LINE [866-FON-CFTC] AND URGES THE PUBLIC TO USE IT TO REPORT SUSPICIOUS ACTIVITIES INVOLVING COMMODITIES, 4745-03, January 29, 2003.
FORMER DYNEGY MARKETING AND TRADE EMPLOYEE CHARGED WITH COMMODITY DECEPTION AND WIRE FRAUD; Former Natural Gas Trader Charged Criminally Under the Commodity Exchange Act With Intentionally Reporting False Natural Gas Price and Volume Information to Energy Reporting Firms in an Attempt to Affect Prices of Natural Gas Contracts, 4744-03, January 27, 2003.
WORLD-WIDE CURRENCY SERVICES CORP. AND OTHERS CHARGED WITH DEFRAUDING CUSTOMERS IN CURRENCY SCAM; CFTC Also Charges World-Wide Director Gennady (George) Spivak and Salesman Ellison Ken Morris with Defrauding Customers in Foreign Currency (FOREX) Futures Trading, Misappropriating Customer Funds, and Operating and Illegal FOREX Futures Business, 4743-03, January 23, 2003.
FLORIDA FIRM, INVESTORS FREEDOM CLUB, L.C. AND OTHERS, CHARGED WITH SOLICITING OVER $1.5 MILLION FROM CUSTOMERS IN FOREIGN CURRENCY (FOREX) FUTURES FRAUD; Government Obtains Federal Court Order Freezing Assets of Defendants Investors Freedom Club, L.C., William Folino, George Belanger, and Relief Defendant Tina Folino, 4742-03, January 23, 2003.
FLORIDA FEDERAL COURT REQUIRES CHIEF INVESTMENT OFFICER TO PAY $16 MILLION IN RESTITUTION TO DEFRAUDED SUNSTATE FX INC. INVESTORS IN CFTC ENFORCEMENT ACTION, 4740-03, January 21, 2003.
MICHIGAN RESIDENT STEPHEN PIERCE SETTLES CFTC ACTION CHARGING INTERNET FRAUD VIOLATIONS, CFTC Order Requires Pierce To Pay A Civil Monetary Penalty and Comply with Undertakings, 4739-03, January 21, 2003.
CHICAGO MAN CHARGED WITH FRAUDULENTLY PROMOTING HIS COMMODITY TRADING SYSTEM; CFTC Alleges Gregory Elliott (d/b/a Softrade, Inc.) Made False Claims Concerning Profits Generated by His Commodity Trading System, 4738-03, January 21, 2003.
NEW YORK FOREIGN CURRENCY FIRM CHARGED WITH FRAUDULENTLY SOLICITING RETAIL CUSTOMERS OVER THE INTERNET TO INVEST IN ILLEGAL, OFF-EXCHANGE FOREIGN CURRENCY (FOREX) FUTURES CONTRACTS; CFTC Charges Rouslan Tambiev and Tamb International, Inc., Both Located in Queens, New York, With Fraud, 4737-03, January 14, 2003.
CFTC SETTLES ACTION AGAINST HEDGE FUND AND SUSPENDS ITS REGISTRATIONS; Beacon Hill Asset Management, LLC Agrees to Suspension of Registrations, 4734-03, January 7, 2003.
CFTC REVOKES MICHIGAN COMMODITY TRADING ADVISOR'S REGISTRATIONS, 4733-03, January 7, 2003.
CFTC SETTLES ENFORCEMENT ACTION AGAINST FLORIDA FIRM AND ITS OWNER; FIRM USED FRAUDULENT SCHEME TO SOLICIT OVER $400,000 FROM UNSOPHISTICATED INVESTORS; $K's Forex International, Inc., a Florida Firm d/b/a SK's Forex International, Inc., and Elizabeth Miskus Kemp, Found to Have Operated Illegal Foreign Currency (FOREX) Futures Trading Firm and to Have Misappropriated Customer Funds, 4732-03, January 6, 2003.