CFTC v. Bradley Scott Schiller, Case No. 12-cv-04043 (N.D. Il.).  On May 24, 2012, the CFTC charged Bradley Scott Schiller with solicitation fraud, misappropriating investors’ funds, and issuing false statements in connection with a $7.8 million Ponzi scheme in which Schiller solicited six people to trade commodity futures contracts on their behalf.  Schiller lied to investors about his success as a trader by using falsified account statements.  In reality, Schiller’s trading resulted in net trading losses.  When investors demanded the return of their funds, Schiller ignored them until he could solicit funds from new investors.  He then used the money obtained from new investors to pay back his old investors.  In addition, Schiller used investor money to fund his life of luxury which included expensive cars and a high-rise condominium.  Schiller is charged with violating the anti-fraud provisions of the Commodity Exchange Act.  The CFTC is seeking, among other things,  injunctive relief, civil monetary penalties, disgorgement and restitution.