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 equitable relief against Marcus Todd Brisco of Hawaii for his fraudulent solicitation and misappropriation of funds in connection with two commodity pools.

The consent order requires Brisco to pay a $350,000 civil monetary penalty and $1.65 million restitution to victims of his fraudulent scheme. The order also imposes permanent trading and registration bans, and a permanent injunction prohibiting Brisco from further violations of the Commodity Exchange Act and CFTC regulations, as charged.

The consent order stems from a CFTC complaint filed against eight defendants in January 2023. [See CFTC Press Release No. 8665-23]. The court previously entered judgments or consent orders against the other defendants, and this consent order against Brisco resolves this action against all defendants.

Source:  https://www.cftc.gov/PressRoom/PressReleases/9012-24

Categories: Commodity Pool Fraud

CFTC-PR-9012-24 (12-5-24)