Vail, Arizona resident Aden Rusfeldt, also known as “Big A,” is facing significant penalties after the U.S. Commodity Futures Trading Commission (CFTC) found he defrauded customers by concealing a prior court order prohibiting him from engaging in commodity-related activities. The CFTC filed an order instituting proceedings and settling charges against Rusfeldt on September 29, 2016.
The case stems from a 2007 CFTC complaint alleging fraudulent solicitation through Rusfeldt Investments LLP. A subsequent 2008 Consent Order permanently barred Rusfeldt and his company from trading commodity interests and required restitution and penalties. Despite this order, Rusfeldt operated ETF Trend Trading from approximately July 2008 to April 2015, selling commodity interest services and educational materials to over 500 customers.
Crucially, Rusfeldt failed to disclose the prior CFTC action or the permanent injunction to any of his customers. He continued to omit these critical facts even as he sold ETF Trend Trading in April 2015, according to the CFTC. This omission constitutes a fraudulent failure to disclose material information.
The CFTC order mandates Rusfeldt pay $2,238,170 in restitution to defrauded customers and a $980,000 civil monetary penalty. He is permanently prohibited from trading on any registered entity, registering with the CFTC, and engaging in any commodity interest related activities. The order also includes a cease and desist from further violations of the Commodity Exchange Act (CEA) and CFTC Regulations.
The CFTC cautioned that victims may not fully recover their losses, as the defendant may lack sufficient assets. The agency affirmed its commitment to protecting customers and holding wrongdoers accountable. Amanda Burks, Kara Mucha, Alison Wilson, and Rick Glaser of the CFTC’s Division of Enforcement led the investigation.
Source: CFTC.gov
Related Federal Cases
- Sylvia Begay, Medicaid Billing Fraud, Arizona 2024 · Washington
- Reginald Fowler, Bank Fraud, Arizona 2024 · Florida
- Stephen Allen Lamont, Medicare Fraud, Arizona 2023 · New York
- Eduardo Rodriguez-Ayala, Passport Fraud, Waterloo IA, 2013 · Washington
- Elaine Monique Zavala-Charres, $260K IRS Mail Fraud, NY, 2023 · Massachusetts
