CFTC v. Brad L. Demuzio, et al., Case No. 4:12-cv-00183-MHW. On November 1, 2012, the CFTC announced it obtained a $3 million dollar judgment against Brad Demuzio and his company. The company defaulted and Demuzio settled. Without admitting or denying the CFTC’s allegations, Demuzio consented to an order that finds that Demuzio, through his company, solicited investors to trade forex through a pooled investment fund. Demuzio misappropriated investor funds for personal expenses and falsely told investors that their investments were profitable. In a related criminal proceeding, Demuzio pleaded guilty. The judgment enjoins Demuzio from future violations of the Commodity Exchange Act, imposes permanent trading and registration bans against Demuzio and his company, and orders them to jointly pay restitution of $805,273. In addition, under terms of the final orders, Demuzio is required to jointly pay a $1 million civil monetary penalty, and his company is ordered to jointly pay a civil monetary penalty of $2,415,819.
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