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FOREX Press Releases,
Complaints & Orders

Release: 4784-03
For Release: 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

WASHINGTON, D.C. -- The U.S. Commodity Futures Trading Commission (CFTC) announced today that the U.S. District Court Judge Ursula Ungaro-Benages of the Southern District of Florida entered an order making a finding of civil contempt against Marc Stephen Wuensch (Wuensch) and ordering his incarceration if payments specified in the order are not made.

Specifically, the court gave Wunsch 30 days to purge his contempt by paying a lump sum of $250,000 into an existing receivership, and further ordered him to make monthly payments of $1,500 thereafter to meet his pre-existing obligation to repay ill-gotten gains of nearly $2.3 million.

The court’s action stems from a CFTC complaint charging the defendant with violating the Commodity Exchange Act (CEA) and CFTC regulations dating from 1991 (see CFTC News Release 4061-97). On September 29, 1997, the court had entered an order finding that Wuensch had violated the anti-fraud and supervisory provisions of the CEA and CFTC regulations, in connection with his roles as manager of Trinity Financial Group, Inc. and as owner and president of Carrington Financial Corp., which were both located in Aventura, Florida. The court permanently enjoined Wuensch from further violations of the CEA and Commission regulations, and ordered him to disgorge all of his ill-gotten gains from the two companies. In a subsequent order dated December 7, 1999, the court assessed the total disgorgement amount against Wuensch to be $2,290,207.

A copy of the Order may be obtained at www.cftc.gov.

The following CFTC Division of Enforcement staff are responsible for this action: Peter Haas and Steven Humenik.

Media Contact:
Paul G. Hayeck, Associate Director
CFTC Division of Enforcement, Washington, DC
202-418-5312

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