WASHINGTON, D.C. – Anthony J. Klatch II and Lindsey Heim were ordered to pay over $1.9 million in restitution and penalties for defrauding investors through their company, Assurance Capital Management, LLC (ACM), the U.S. Commodity Futures Trading Commission (CFTC) announced on July 11, 2017. The judgment was entered by Judge Susan C. Bucklew of the U.S. District Court for the Middle District of Florida.
The order mandates that Klatch, Heim, and ACM collectively pay $459,613 in restitution and a $1,509,552 civil monetary penalty. Klatch is also personally liable for an additional $96,873 in restitution and a $335,456 civil monetary penalty related to two separate fraudulent schemes he orchestrated.
This judgment builds upon previous legal action against Klatch. He is already subject to a permanent trading and registration ban, along with a roughly $12.9 million restitution judgment, stemming from a 2011 CFTC case in the Southern District of New York concerning a Ponzi scheme he ran between 2007 and 2011. The current order expands on the previous injunction, prohibiting Klatch from any involvement in commodity interest trading.
Furthermore, Klatch is required to disclose his past violations whenever discussing commodity interests, acknowledging his prior fraud convictions and the financial penalties imposed. He served 60 months in prison after pleading guilty to charges of securities fraud, wire fraud, money laundering, and conspiracy to defraud the United States in connection with the earlier Ponzi scheme.
The court found that Klatch, after his release from prison in 2014, initiated new investment schemes between April 2014 and December 2015. These schemes involved fraudulently soliciting investors through ACM, established in June 2015.
Lindsey Heim and ACM are also subject to permanent trading and registration bans, preventing them from participating in future commodity interest transactions. The case numbers for the CFTC actions against Klatch are U.S. District Court for the Southern District of New York, 11-cv-5191, and U.S. District Court for the Middle District of Florida, 17-cv-213.
Source: CFTC.gov
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