CFTC v. Worth Group, Inc., Andrew Wilshire, and Eugenia Mildner, Case No. 9:13-cv-80796 (S.D. Fla.). On August 13, 2013, the CFTC announced fraud charges against Worth Group Inc., its owner, Andrew Wilshire, and its director, Eugenia Mildner. According to the CFTC, Worth purported to sell physical metal, like gold and silver, on a fully-paid or financed basis. The CFTC alleges that Worth lied to customers by telling them that it would deliver the metal either to them directly or to a depository. In reality, Worth did not deliver metal to the customers. Rather, it would buy metals derivatives in accounts owned by Worth. For customers financing the purchases, the CFTC alleges that Worth violated the Dodd-Frank Act because such financed transactions are illegal unless the metal is actually delivered within 28 days. The CFTC alleges that Worth, acting by and through Wilshire and Mildner, raised more than $73 million. The CFTC seeks preliminary and permanent injunctions, restitution, civil monetary penalties, and disgorgement of ill-gotten gains.
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