Tag: commodity pools fraud

CFTC fraud
July 08, 2022 BY Steffy Bogdanova

Commodity pool fraud operator to pay $13 million in a CFTC case

Additionally, Seibert told the investors that he would find the lending opportunities, conduct due diligence to confirm that the borrower was qualified, and handle the closing and servicing of the loan. Instead using the funds for loans, Seibert pooled and used most of the money to trade commodity interests in his personal trading account and…

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March 25, 2014 BY Andrew Saks-McLeod

LeapRate Fraud Watch: ETF fund operator blew client funds on flamboyant lifestyle

CFTC issues $2.1 million financial penalty to Mitchell Huffman of Charlotte, NC, in addition to criminal sentencing two years prior The U.S. Commodity Futures Trading Commission (CFTC) announced yesterday that it has obtained a federal court supplemental Consent Order requiring CFTC Defendant Mitchell Brian Huffman, of Charlotte, North Carolina, to pay a $2.1 million civil…

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March 20, 2014 BY Andrew Saks-McLeod

LeapRate Forex Fraud Watch - Steven Lyn Scott charged by CFTC

Texan Steven Lyn Scott charged with solicitation, fraud, misappropriation of client funds and registration violations The U.S. Commodity Futures Trading Commission (CFTC) has today reported that it filed an enforcement action March 19, 2014 against Defendant Steven Lyn Scott, who is also known as Stevon Lyn Scott, of Dallas, Texas, charging him with solicitation fraud,…

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December 04, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch – Abdul Sultan Walji and Reniero Francisco to pay over $22 Million

Registered commodity pool operator Arista LLC misappropriated $4.125 million from 39 investors The US Commodity Futures trading Commission (CFTC) has issued a press release informing the public about a federal court order that seeks over $22 million in restitution and fines from Abdul Sultan Walji and Reniero Francisco. They acted as principals for the registered…

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November 14, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch – $1.75 mln fine for Thomas B. Breen

Sentenced to prison alongside his associates Robert J. Cannone and Francis Franco The US regulator CFTC has issued a statement announcing that it it obtained a court order against the principal of National Equity Holdings Thomas B. Breen for $1.75 mln, related to his fraudulent activities of solicitation, misappropriation of the firm’s customers’ funds and…

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