CFTC Orders Robert A. Christy And His Company To Pay $2.6 Million To Settle Forex Fraud

CFTC v. Crabapple Capital Group, LLC and Robert A Christy, Case No. 1:12-cv-1346-RWS (N.D. Ga.).  On October 23, 2012, the CFTC announced it obtained a settlement requiring Robert A. Christy and Crabapple Capital Group to pay more than $2.6 million in sanctions for forex fraud.  The order finds that defendants defrauded investors who invested in Crabapple to trade forex.  Crabapple provided clients with false statements that misrepresented the trading history and profits when, in reality, Crabapple suffered significant trading losses.  Defendants also misappropriated investor money and tried to hide their fraud by proving false information to the National Futures Association.  Without admitting or denying the allegations, Defendants consented to an order enjoining them from violating the anti-fraud provisions for the Commodity Exchange Act, prohibiting them from engaging in commodity trading activity or associating with entities registered with the CFTC, requiring restitution in the amount of $1,099,598 and civil monetary penalties in the amount of $1,541,882.

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