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Tag Archives: Commodity Exchange Act
CFTC Charges Jose S. Rubio in $1.8 Million Commodity Pool Fraud
CFTC v. Jose Rubio et al., Case No. 1:12-cv-22128 (S.D. Ga.). On June 7, 2012, the CFTC filed an enforcement action against Jose S. Rubio and Rubio Wealth Management, LLC (RWM) alleging they violated the Commodity Exchange Act by defrauding investors … Continue reading
CFTC Settles Forex Fraud Action Against Luis Salazar-Correa For $2.6 Million
In the Matter of Prosperity Team, LLC and Luis Salazar-Correa, CFTC Docket No. 12-23. On June 6, 2012, the CFTC ordered Luis Salazar-Correa and his Nevada-based company, Prosperity Team, LLC, to pay more than $2.6 million in a settled administrative proceeding. From … Continue reading
CFTC Charges Ronnie Gene Wilson and His Company Charged With Operating a $90 Million Ponzi Scheme
CFTC v. Atlantic Bullion & Coin, Inc. and Ronnie Gene Wilson, Case No. 8:12-1503-JMC (D.S.C.). The CFTC filed a federal civil enforcement action against Ronnie Gene Wilson and Atlantic Bullion & Coin, Inc. (“AB&C”), charging them with with operating a $90 … Continue reading
CFTC Orders Morgan Stanley to Pay $5 Million for Unlawful Noncompetitive Trades
In the Matter of Morgan Stanley & Co., CFTC Docket No. 12-22. On June 5, 2012, the CFTC issued an order settling charges that, over an 18-month period, Morgan Stanley & Co. unlawfully executed, processed, and reported off-exchange futures trades to … Continue reading
CFTC Charges CTI Group, LLC, Cooper Trading, Stephen Symons, and James Kline With An $11 Million Fraud in the Sale of Automated Trading Systems
CFTC v. CTI Group, LLC et al., Case No. 1:12-cv-03754-ALC (S.D.N.Y). On May 25, 2012, the CFTC announced that it had charged CTI Group, LLC, Cooper Trading, Stephen Craig Symons, and James David Kline with fraudulent sales practices in connection with … Continue reading
CFTC Charges Bradley Schiller in $7.8 Million Ponzi Scheme
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 … Continue reading
U.S District Court in South Carolina Orders $7.5 Million in Penalties, Restitution and Disgorgement in Forex Ponzi Scheme
In U.S. Commodity Futures Trading Commission v. Ronald E. Satterfield et al., Case No. 2:10-CV-2893-RMG, the CFTC obtained two consent orders of permanent from the U.S. District Court for the District of South Carolina. One order requires Ronald E. Satterfield … Continue reading
CFTC Orders $850,000 in Penalties and Restitution in Forex Fraud Case
This week, the U.S. Commodity Futures Trading Commission filed and simultaneously settled charges against Alexandre P. Guimaraes and his company, ACI Capital Group, L.L.C. for fraudulently soliciting customers to trade off-exchange foreign currency contracts (“forex”). According to the Order Instituting … Continue reading
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