CFTC-PR-9019-24 (12-12-24) (CFTC-PR-2412) Federal Court Orders Minnesota Man and Two Companies to Pay Over $2 Million for Futures Fraud and Misappropriation Excerpt: December 12, 2024 – WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced the U.S. District Court for the District of Minnesota issued an order of default judgment against Richard “Rick” Miller and his company, Flip 2 […]
Category: Commodity Pool Fraud
Commodity Pool Fraud refers to deceptive practices involving unregistered operators who solicit investments in commodity pools, which are collective investment vehicles that trade in commodity futures and options. Typically, these fraudsters lure investors with false promises of high returns and minimal risk, often using misleading marketing tactics. Many fraudulent schemes involve operators who misrepresent their credentials or the performance of the pool, leading to significant financial losses for investors. The Commodity Futures Trading Commission (CFTC) emphasizes the importance of verifying the registration of both the pool and its operators before investing, as most fraudulent pools operate without proper oversight. This type of fraud not only undermines investor trust but also poses serious risks to the integrity of the financial markets.
CFTC-PR-9012-24 (12-5-24) (CFTC-PR-2412) Federal Court Orders Defendant to Pay More Than $2 Million for Operating Commodity Pool Fraud Scheme Excerpt: December 5, 2024 – WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of Texas entered a consent order imposing permanent injunctive relief, civil monetary penalty, restitution, and […]