December 24, 2002 - CFTC SUES LAS VEGAS MAN FOR FRAUDULENTLY PROMOTING HIS COMMODITY TRADING METHOD; CFTC Alleges Charles Cox Made False Claims Concerning Profits Generated by His Commodity Trading Method
December 23, 2002 - CFTC SETTLES COMMODITY FRAUD ACTION AGAINST MARYLAND MAN AND FIRM; District Court Orders Defendants Peter Scott and Rothlin & Windsor Capital Management, Inc. to Pay $13.9 Million in Restitution and Civil Monetary Penalties
December 19 2002 - DYNEGY MARKETING AND TRADE AND WEST COAST POWER LLC PAY $5 MILLION TO SETTLE CFTC CHARGES OF ATTEMPTED MANIPULATION AND FALSE REPORTING; Energy Companies Settle Claims Under the Commodity Exchange Act That They Intentionally Reported False Natural Gas Price and Volume Information to Energy Reporting Firms in an Attempt to Affect Prices of Natural Gas Contracts
December 12, 2002 - COMMODITY FUTURES TRADER CHARGED WITH $1.5 MILLION FRAUD; U.S. GOVERNMENT AND UTAH ATTORNEY GENERAL ALLEGE FRAUD AND THEFT BY DECEPTION; Federal Court Freezes Assets and Bars the Destruction of Books and Records
December 12, 2002 - CFTC FINDS COMEX FLOOR BROKERS HENRY CHANDLER AND ERNEST PENNY COMMITTED FRAUD IN EXECUTING GOLD OPTIONS TRADES, AND FIVE OTHER FLOOR BROKERS ENGAGED IN NONCOMPETITIVE TRADING, AMONG OTHER VIOLATIONS OF THE FEDERAL COMMODITIES LAWS; CFTC Accepts Offers of Settlement from Henry Chandler, Robert Ferraioli, Michael Hammer, Ernest Penny, Tacho Sandoval, William Wosnack, and Stephen Seelenfreund
November 7, 2002 - CFTC SUES IDAHO MAN FOR FRAUDULENTLY PROMOTING HIS COMMODITY TRADING SYSTEM; CFTC Alleges John Stenberg Made False Claims Concerning Profits Generated by His Commodity Trading System
October 28, 2002 - NEW YORK FLOOR BROKER SETTLES CFTC ACTION CHARGING RECORDKEEPING VIOLATIONS; CFTC Order Requires Daniel Lipton to Pay A Civil Monetary Penalty and Restricts His Registration for Two Years
October 24, 2002 - FLORIDA COURT FINDS TWO FLORIDA RESIDENTS AND THEIR FIRM COMMITTED COMMODITIES FRAUD; Defendants Matrix Trading Group, Inc., David Wedeen, and Christopher Smithers Are Ordered to Pay Restitution to Victims and Are Permanently Banned from All Commodity-Related Activity in CFTC Action
October 23, 2002 - CFTC'S DIVISION OF ENFORCEMENT CREATES OFFICE OF COOPERATIVE ENFORCEMENT; Daniel Nathan Heads New Office Whose Mission is to Strengthen Ties to Other Regulators and Enhance Federal and State Commodities Prosecutions
October 16, 2002 - MICHIGAN COMMODITY TRADER SETTLES CFTC COMPLAINT CHARGING COMMODITY POOL FRAUD; Consent Order Finds that John F. O'Herron and O'Herron Asset Management, Inc. Fraudulently Diverted Approximately $1.4 Million of Investor Funds for Their Own Use
October 10, 2002 - WASHINGTON STATE COMMODITY TRADING FIRM CHARGED WITH FRAUD IN THE SOLICITATION OF FOREIGN CURRENCY (FOREX) FUTURES ACCOUNTS; Defendant Sterling forex Lost $1.8 Million in Customer Investments
October 2, 2002 - ST. LOUIS COMMODITY TRADER AND HIS COMPANY CHARGED WITH TAKING AS MUCH AS $494,000 FROM INVESTORS; CFTC Also Charges Defendants With Giving Investors False Account Statements Showing Profitable Trading When the Defendants Were Losing Money
September 26, 2002 - SISTER OF A FORMER EMPLOYEE OF A CHICAGO COMMODITY FIRM AGREES TO TURN OVER MONEY HER BROTHER GAVE HER AS PART OF HIS FRAUDULENT SCHEME; CFTC Also Obtains Default Judgment Against Other Remaining Relief Defendants
September 19, 2002 - FLORIDA RESIDENT CHARGED WITH SWINDLING AT LEAST $10.6 MILLION FROM INVESTORS AND SPENDING MONEY ON LAS VEGAS JUNKETS, AIRPLANE CHARTERS, HOMES, AND AUTOMOBILES; CFTC Charges Donald C. O'Neill and His Companies with Fraudulent Solicitation and Misappropriation in Connection With Purported Foreign Currency Hedge Funds
September 18, 2002 - CFTC'S DIVISION OF ENFORCEMENT NAMES NEW REGIONAL COUNSEL FOR CHICAGO AND NEW YORK OFFICES;Rosemary Hollinger New Regional Counsel for Chicago and Stephen Obie Takes Over as Regional Counsel for New York
September 13, 2002 - ATLANTA INVESTMENT FIRM AND ITS CHIEF EXECUTIVE OFFICER CHARGED WITH SOLICITING OVER $400,000 FROM CUSTOMERS TO INVEST IN ILLEGAL FOREIGN CURRENCY (FOREX) FUTURES CONTRACTS; Government Obtains Federal Court Order Preventing Defendants from Offering Illegal FOREX Contracts and Freezing Assets of Defendants Advent Capital Partners, Ltd. and Samuel Daley
September 4, 2002 - CALIFORNIA DEFENDANTS SETTLE CFTC COMPLAINT ALLEGING COMMODITY OPTIONS FRAUD; Madison Financial Group, LLC, and Its President and a Principal, Richard A. Cohen, Are Permanently Barred From Trading Commodity Futures and Options
September 3, 2002 - GEORGIA CORPORATION AND TWO INDIVIDUALS CHARGED WITH FRAUDULENTLY OFFERING ILLEGAL FOREIGN CURRENCY (FOREX) FUTURES CONTRACTS CFTC Obtains Federal Court Order Freezing Assets of Global Financial Consulting, Inc., Wook Hyun Kim, and Chang H. Lee
August 29, 2002 - FLORIDA RESIDENTS AND THEIR COMPANIES CHARGED WITH MISAPPROPRIATING CUSTOMER FUNDS IN FOREIGN CURRENCY (FOREX) FUTURES SCAM: CFTC Charges First Bristol Group, Inc., Alliance Equity Group, Inc., Centurion Financial Group, LC, and Great Minster Group, Inc., Staci Lee Petok, Bernard Justin Sevilla, Jack Martin Pomeroy, and Michael Desmond Biggs With Fraud
August 15, 2002 - UTAH COMPANY AND FOUR UTAH RESIDENTS CHARGED WITH COMMODITY POOL FRAUD; CFTC Alleges Gahma Corporation, John Garrett, Allen Andersen and Robert Heninger Fraudulently Solicited at Least $700,000 from Individuals to Trade Commodity Futures Contracts; CFTC Also Charges Stephen Brockbank, an Advisor to the Pool, with Fraud; This is the Second Fraud Action Filed by the CFTC Against Brockbank
August 8, 2002 - MINNESOTA FEDERAL COURT PRELIMINARILY ENJOINS FOREIGN CURRENCY FRAUD: Defendants Sovereign Resource Management, Inc., Ken Mitra, Virgil Smith and Anthony Heppner Ordered to Account for Investor Funds
August 5, 2002 - FEDERAL COURT APPOINTS RECEIVER TO TAKE CONTROL OF ASSETS OF MICHIGAN ATTORNEY IN COMMODITIES FRAUD CASE; The CFTC Charged Defendant Charles Mady with Issuing False False Account Statements to Hide Mounting Commodity Trading Losses and Misappropriating Investor Funds
July 25, 2002 - FLORIDA FEDERAL COURT ENJOINS RECIDIVIST IN ACTION ALLEGING HE MISAPPROPRIATED AT LEAST $1 MILLION IN CUSTOMER FUNDS AND VIOLATED A PRIOR FEDERAL COURT ORDER;Consent Order issued by United States District Court in Florida Enjoins Defendants Thomas D. Chilcott and Leona Westbrook from, among other things, Committing Fraud and also Permanently Bars Defendants from Commodity Trading
July 24, 2002 - GRENADIAN COMPANY, A CANADIAN CITIZEN, AND TWO MINNESOTA RESIDENTS CHARGED WITH COMMODITY POOL FRAUD;CFTC Alleges that Sovereign Resource Management, Inc., Ken Mitra, Virgil E. Smith, and Anthony J. Heppner Fraudulently Solicited Individuals to Trade Foreign Currency Futures Contracts and Misappropriated Over $600,000 of Investors' Funds
July 23, 2002 - CFTC SUSPENDS TWO FLOOR BROKERS FOR UNLAWFULLY TRADING COFFEE FUTURES CONTRACTS;In Settlement, Joseph Defrancesco Found to Have Engaged in Fraud, Bucketing of Customer Orders, and Reporting Non-Bona Fide Prices, and Marc Greenstein Found to Have Engaged in Noncompetitive Trading, Wash Sales, and Accommodation Trades
July 22, 2002 - NEW YORK FOREIGN CURRENCY FIRMS CHARGED WITH FRAUDULENTLY SOLICITING OVER $15 MILLION FROM AS MANY AS 400 CUSTOMERS NATIONWIDE TO INVEST IN ILLEGAL FOREIGN CURRENCY (FOREX) FUTURES CONTRACTS;CFTC Obtains Federal Court Order Freezing Assets of Defendants International Financial Services (New York), Inc., International Financial Services (New York), LLC, John Walker Robinson, and Chan Kow Lai
July 15, 2002 - COFFEE COMMODITY TRADERS BRUCE MILLER AND DEIRDRE ANDERSON CHARGED WITH FRAUDULENT TRADE ALLOCATION SCHEME;George Lamborn and Richard Lani Sr. Alleged To Have Failed to Diligently Supervise Miller and Anderson's Trading; CSCE Floor Brokers, Daniel Lipton and Kenneth Lawson, Charged With Failing to Obtain Required Customer Account Identification,
July 11, 2002 - FLORIDA WOMAN AND COMPANY SETTLE CFTC CHARGES ALLEGING THEY FRAUDULENTLY MARKETED COMMODITY TRADING SYSTEMS; CFTC Imposed Trading Bans and Penalties on Bernadette Flavell and Systems of Success - Window to Profit (SOS)
June 24, 2002 - CALIFORNIA COMMODITY TRADER CHARGED WITH UNAUTHORIZED TRADING, UNLAWFULLY OPERATING A COMMODITY POOL AND ILLEGALLY MANAGING TRADING ACCOUNTS;FTC Files Complaint Against Donald Steven Smith and His Company, Fibit.com, in Federal District Court
June 12, 2002 - MICHIGAN ATTORNEY CHARGED WITH $6 MILLION COMMODITIES FRAUD;Federal Government Alleges that Charles Mady Issued False Account Statements to Hide Mounting Commodity Trading Losses and Misappropriated Over $1 Million
June 12, 2002 - MARYLAND MAN AND FIRM SETTLE CHARGES OF FRAUD WITH CFTC;Consent Order issued by District Court Enjoins Defendants Peter Scott and Rothlin & Windsor Capital Management, Inc. from Committing Fraud and also Permanently Bars Defendants from trading in futures and options
June 10, 2002 - INTERNET TRADING SYSTEM PROMOTER SETTLES CHARGES ALLEGING HE MADE MISREPRESENTATIONS ON WEBSITE;Michael Radcliffe Made False Claims Concerning Profits He Generated By Using His Commodity Trading System.
June 10, 2002 - FLORIDA, LOUISIANA AND GEORGIA FIRMS CHARGED WITH FRAUDULENTLY SOLICITING OVER $1,000,000 FROM CUSTOMERS TO INVEST IN ILLEGAL FOREIGN CURRENCY(FOREX) OPTION CONTRACTS; Government Obtains Federal Court Order Freezing Assets of 19 Individuals and Companies: Related Action Also Filed by Louisiana Attorney General
May 22, 2002 - CFTC ESTABLISHES ENRON INFORMATION LINK TO ASSIST THE PUBLIC IN REPORTING SUSPICIOUS ACTIVITIES THAT MAY HAVE AFFECTED WEST COAST ELECTRICITY OR NATURAL GAS PRICES INVOLVING ENRON OR ANY OTHER COMPANY
May 15, 2002 - FLORIDA FEDERAL COURT REQUIRES DEFENDANTS MICHAEL A. DIPPOLITO; MAD, INC.; AND CTU, INC. TO PAY RESTITUTION TO DEFRAUDED CUSTOMERS IN CFTC ENFORCEMENT ACTION. Court's Order Also Bars Defendants From Further Fraudulent Conduct and From Trading Commodity Futures or Options.
May 8, 2002 - TEXAS COMMODITY TRADER CHARGED WITH DEFRAUDING CUSTOMERS AND MISAPPROPRIATING CUSTOMER FUNDS. CFTC Charges Dewey V. Wiles and His Company, Futures Exchange Company, Inc., with Fraudulently Soliciting Funds to Trade Commodity Futures.
May 2, 2002 - CFTC CHARGES UTAH INVESTMENT FIRM WITH RUNNING A $14.7 MILLION FOREIGN CURRENCY (FOREX) PONZI SCAM; Federal Court Immediately Freezes Assets of 4NExchange, LLC, Paul Grant and Ronald Bassett In Related Action.
April 23, 2002 - TEXAS COMMODITY BROKER COMMITTED SOLICITATION FRAUD; In CFTC Action, D. Michael Sheaves Fined $50,000 and Ordered to Pay Restitution for Fraudulently Failing to Advise Prospective Clients of Significant Trading Losses.
April 9, 2002 - CFTC SETTLES COMMODITY FRAUD SOLICITATION CASE AGAINST CALIFORNIA TRADING SYSTEM DEVELOPER; Defendant Abdullah Alsafari Barred from Further Fraudulent Conduct in Violation of Federal Commodities Laws.
April 4, 2002 - FLORIDA COMMODITY TRADING SYSTEM DEVELOPER AND NEW YORK PUBLISHER SETTLE CFTC FRAUD ACTION; CFTC Finds that George Angell, TradeWins Publishing and its President, Stephen Schmidt, Fraudulently Marketed Commodity Trading System.
April 2, 2002 - THREE FORMER EMPLOYEES OF CHICAGO COMMODITY FIRM SETTLE GOVERNMENT ACTION FOR FRAUDULENT TRADING; Defendants Martin Brown, Geoffrey S. Thompson, and Ydiyell Howard Prohibited From Trading in the Commodity Markets.
March 21, 2002 - CFTC SETTLES FRAUD ACTION AGAINST WEST VIRGINIA COMMODITY POOL OPERATOR; Defendants Robert L. Dormagen and Delta Financial Corporation Permanently Barred From Trading Futures or Options
March 21, 2002 - CFTC SETTLES CHARGES AGAINST MINNESOTA DEFENDANTS IN COMMODITY POOL FRAUD CASE; Leonard Nauman and His Two Companies, Pension America, Inc., and Futures Profit Making, LLC, Are Permanently Barred From Trading For Others.
March 20, 2002 - LOS ANGELES COMMODITY TRADER SETTLES CFTC FRAUD ACTION; Alfred Gladstone Ordered to Pay Up To $171,000 in Restitution and Civil Monetary Penalty Pursuant to Payment Plan and Agrees Never to Seek CFTC Registration.
March 20, 2002 - CFTC FILES ENFORCEMENT ACTION AGAINST FOUR CSCE FLOOR BROKERS, CHARGING THEM WITH UNLAWFULLY TRADING COFFEE FUTURES; Joseph Defrancesco, Ronald Kilbride, and Brian Thornton Charged with Fraud, Bucketing of Customer Orders, and Reporting Non-Bona Fide Prices; Defrancesco, Kilbride, Thornton, and Marc Greenstein Also Face Charges of Noncompetitive Trading, Illegal Wash Sales, and Accommodation Trades.
March 18, 2002 - CALIFORNIA COMMODITY TRADER CHARGED WITH MISAPPROPRIATING MORE THAN $500,000 IN CUSTOMER FUNDS AND VIOLATING PRIOR COMMISSION ORDER; CFTC Charges Mark Ross Weinberg With Fraudulently Soliciting Funds to Trade Commodity Futures; Federal Court Freezes Assets and Bars Destruction of Books and Records.
March 11, 2002 - FLORIDA COMMODITY TRADER CHARGED WITH MISAPPROPRIATING AT LEAST $1 MILLION IN CUSTOMER FUNDS AND VIOLATING PRIOR FEDERAL COURT ORDER; CFTC Charges Thomas Chilcott, Ted Whidden, and Leona Westbrook With Fraudulently Operating Commodities Trading Business Known As Trade Master of Southwest Florida; Federal Court Freezes Assets and Bars Destruction of Books and Records.
February 27, 2002 - CFTC CRACKS DOWN ON FOREIGN CURRENCY SCAMS NATIONWIDE; Nineteen Firms and Individuals Charged in Sweep With Selling Illegal Foreign Currency (Forex) Investments to the Retail Public; Actions Cap First Year of FOREX Initiative Using Reinforced Statutory Authority.
February 25, 2002 - FORMER CHIEF OPERATING OFFICER OF A COMMODITY FIRM SETTLES CFTC ACTION CHARGING SUPERVISORY FAILURES; CFTC Finds That Mark Vaughn Failed To Supervise Diligently The Handling Of Foreign Customer Accounts
February 11, 2002 - COMMODITY TRADER AND TWO MICHIGAN COMPANIES CHARGED WITH $2.9 MILLION FRAUD; GOVERNMENT ALLEGES FICTITIOUS TRADING; Federal Court Freezes Assets and Bars the Destruction of Books and Records
February 11, 2002 - NEW YORK COMMODITY BROKER CHARGED WITH ILLEGAL TRADING AND VIOLATION OF A COMMISSION ORDER; CFTC Alleges Branch Manager Patrick Ligammari Engaged in Non-Competitive Trading To Facilitate the Transfer of Over $300,000 Between Two Foreign Accounts
February 7,2002 -NFA SUSPENDS TWO MICHIGAN FIRMS AND THEIR PRESIDENT; National Futures Association took a summary action to suspend two firms and an individual yesterday for providing false information to NFA. Those involved are Commodity Consultants International, Inc. (CCI), FutureWise Trading Group, Inc. (FutureWise) and Todd James Snively (Snively), the president of these two firms. In addition to the suspension from NFA membership, they are also prohibited from acting in any manner which requires registration under the Commodity Exchange Act, including soliciting and accepting additional customer funds and accepting or placing trades for accounts except for liquidating positions.