CFTC v. David M. Nunn, Case No. 12-civ-7786 (S.D.N.Y.). On October 18, 2012, the CFTC announced it filed charges against David M. Nunn, a former broker of ICE Futures U.S. Inc. Dunn engaged in non-competitive and fictitious sales of coffee futures contracts. There were more than 1300 trades involving more than $1.5 million. The transactions were “wash sales,” which are fictitious sales or sales used to cause a price to be recorded that is not a bona fide price. Nunn also made false statements to ICE staff which is registered with the CFTC. The CFTC seeks injunctive relief, a trading suspension, a registration bar, and civil monetary penalties.
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