Chicago, IL – The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement complaint against Alvin Guy Wilkinson of San Juan, Puerto Rico, alleging a multi-million dollar fraud scheme. The complaint, filed in the U.S. District Court for the Northern District of Illinois, also names Wilkinson’s limited partnerships, Chicago Index Partners, L.P. (CIP) and Wilkinson Financial Opportunity Fund, L.P. (WFOF), both based in Sharon, Connecticut.
Wilkinson is accused of fraudulently soliciting at least $6.9 million from over 30 investors between July 1999 and the present. He allegedly claimed he would invest the funds in futures contracts using a volatility strategy. However, the CFTC alleges Wilkinson misappropriated at least $5.2 million and operated a Ponzi scheme, returning approximately $1.7 million to investors as purported profits or return of capital.
The complaint further details that Wilkinson provided false Schedule K-1 Forms to investors, misrepresenting the profitability and value of their investments in WFOF and CIP. He is also accused of lying about potential profits and risks, ignoring withdrawal requests, and concealing the true lack of value in investor’s partnership interests.
During an investigation by the National Futures Association (NFA) in May 2016, Wilkinson allegedly submitted false financial information, claiming funds were tied to a $12 million “Note Receivable” that did not exist. He previously served in leadership roles on the Chicago Board Options Exchange (CBOE), including on its board of directors.
The CFTC is seeking full restitution for defrauded investors, disgorgement of ill-gotten gains, a civil monetary penalty, permanent registration and trading bans, and a permanent injunction against further violations of federal commodities laws. The NFA assisted in the investigation.
Source: CFTC.gov
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