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Screenshot of a breaking news alert e-mail from Q2 2017
Melissa C. Rushton to ordered to pay $50,000 by court order.
This is a new one….. The CFTC is now going after not just those who perpetrate fraud, but also their spouses, if it can show that the spouses knew of the fraud. The CFTC announced that it obtained a federal court order requiring Melissa C. Rushton of Gridley, Illinois to pay a $50,000 fine to settle fraud and other charges stemming from her role in the operation of Summit Trading & Capital LLC, which was run by her husband Brant L. Rushton.
Brant Rushton and Summit were previously ordered to jointly pay $1.6 million in restitution to defrauded clients plus a civil monetary penalty of $3.2 million. Brant Rushton pled guilty to criminal charges in a parallel federal criminal action stemming from the same conduct. Melissa Rushton was not charged in the criminal action.
The current court order found that Melissa Rushton was a controlling person of Summit, and that upon learning of the fraud being perpetrated by her husband, she failed to act but instead allowed the fraud to continue until the CFTC filed this action.
For the complete CFTC press release click here.