CFTC files $20 million dollar fraud charges in international binary options scheme LeapRate

May 08, 2020 BY Steffy Bogdanova

CFTC files $20 million dollar fraud charges in international binary options scheme

The Commission alleged that the defendants created fraudulent marketing materials promising monumental profits with no risk of loss and distributed them via email spam and by making online videos. CFTC alleges that the scheme continued from at least October 2013 through August 2018. As a result of the fraudulent marketing campaign, more than 59,000 customers…

May 08, 2020 BY Steffy Bogdanova

Cayley Investment Management fined $150,000 for wash sales

The Commission also found that on 8 February 2018, Khorrami placed simultaneous buy and sell orders in six different CME futures contracts. After being unable to fill the orders, Khorrami repeatedly modified them until the bid and offer price matched, resulting in a series of pre-arranged cross trades in contracts for crude oil, British Pound,…

October 04, 2017 BY Valentina Kirilova

Petal Walker, Chief Counsel to Former CFTC Commissioner Bowen, leaving agency

Petal Walker, Chief Counsel to former Commodity Futures Trading Commission (CFTC) Commissioner Sharon Bowen will leave the CFTC effective today. Petal has been a vital member of my team since I joined the Commission,” said former Commissioner Bowen. “She joined my office with a wealth of knowledge on matters that were critical to the Commission.…

September 29, 2017 BY Valentina Kirilova

CFTC fines Morgan Stanley & Co. LLC. $500,000 for supervision failures

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Morgan Stanley & Co. LLC (MSCO) (NYSE:MS), a Delaware limited liability company headquartered in New York City, for failing to diligently supervise the reconciliation of exchange and clearing fees with the amounts it ultimately charged customers for certain transactions…

August 18, 2017 BY Valentina Kirilova

Three companies fined in CFTC precious metals and diamonds anti-fraud action

Slemmer Enterprises, Dorrian Enterprises and Roth Investment Group all part of the Berkley Enterprise that defrauded customers The Commodity Futures Trading Commission (CFTC) announced that Judge William P. Dimitrouleas of the U.S. District Court for the Southern District of Florida entered a Consent Order against Defendants Jeffrey Slemmer of Acton, Massachusetts, Christian Dorrian of Boynton…

August 19, 2016 BY Valentina Kirilova

CFTC charges Deutsche Bank AG with multiple swap reporting violations and more

It's been a busy week for the U.S. Commodity Futures Trading Commission (CFTC). After charging FXCM, CFTC has filed a civil complaint in the U.S. District Court for the Southern District of New York, charging Deutsche Bank AG (Deutsche Bank) with failing to report any swap data for multiple asset classes for five days; submitting incomplete…

August 19, 2016 BY Valentina Kirilova

Padbury Mining directors banned for three years due to Oakajee Funding Secured announcement

The Federal Court in Perth has banned Gary Stokes and Terence Quinn from managing corporations for three years and ordered they each pay a $25,000 fine for breaching their duties as directors of Padbury Mining Ltd (Padbury) with respect to the company's disclosure obligations. The decision comes as a result of civil penalty proceedings commenced…

Tag: Commodity Futures Trading Commission (CFTC)