Category: US News
Farr Robert, Funds Segregation Failure, California 2012
Washington, D.C. – Farr Robert, of San Jose, California, and his firm Farr Financial Inc., have agreed to pay a $280,000 penalty to settle charges brought by the U.S. Commodity Futures Trading Commission (CFTC) related to the improper handling of customer funds. The CFTC announced the settlement on October 10, 2012. The charges stem from…
W Resources LLC, Unregistered CPO, Texas 2017
Washington, D.C. – Dallas, Texas-based W Resources, LLC has been ordered to pay a $150,000 penalty by the U.S. Commodity Futures Trading Commission (CFTC) for operating as an unregistered Commodity Pool Operator (CPO). The CFTC issued the order on September 5, 2017, and also directed W Resources to cease and desist from further violations of…
The Bank of Nova Scotia, Fraud, District of Columbia 2020
Washington, D.C. – The Bank of Nova Scotia (BNS) has agreed to pay $77.4 million in penalties and relief to settle charges of manipulative and deceptive conduct in gold and silver futures trading, the Commodity Futures Trading Commission (CFTC) announced on August 19, 2020. The settlement includes a record $17 million penalty for making false…
McGraw-Hill Companies, Inc, Document Obstruction, District of Columbia 2007
Washington, D.C. – On August 27, 2007, United States District Court Judge Ricardo M. Urbina compelled the McGraw-Hill Companies, Inc. to produce documents requested by the Commodity Futures Trading Commission (CFTC), following a dispute over an administrative subpoena issued in December 2006. The CFTC initially subpoenaed McGraw-Hill as part of a non-public investigation into potential…
Gregory Mocek, Manipulation, District of Columbia 2007
Washington, D.C. – The Commodity Futures Trading Commission (CFTC) is hosting an international enforcement conference this week, focusing on the growing issue of commodity market manipulation. The two-day event, beginning tomorrow, will gather senior enforcement officials from around the globe to share insights and strategies for detecting and prosecuting misconduct in commodity markets. CFTC Director…
Bob Bauman, Precious Metals Fraud, District of Columbia 2017
Washington, D.C. – On July 10, 2017, the U.S. Commodity Futures Trading Commission (CFTC) highlighted the case of Bob Bauman, a military veteran and business professional, who fell victim to a precious metals fraud scheme. The CFTC released Bauman’s story as part of its new “True Fraud Stories” video series, aimed at educating investors and…
BGC Financial, Fraud, New York 2019
Washington, D.C. – On October 2, 2019, the U.S. Commodity Futures Trading Commission (CFTC) announced charges and settlements against BGC Financial, LP and GFI Securities, LLC, alleging fraudulent practices by brokers employed at both firms. The orders, filed on September 30, 2019, detail how brokers engaged in deceptive behavior on emerging markets foreign exchange options…
Zhang Cheng Yang, Fraud, Arizona 2025
PHOENIX, AZ – March 21, 2025 – Zhang Cheng Yang, a Chinese national, has been implicated in a $2.2 million digital asset fraud scheme perpetrated by the platform Debiex. The U.S. District Court for the District of Arizona issued a default judgment against Debiex on March 13, finding the platform liable for fraud and misappropriation…
Michael Pucciarelli, EFP Manipulation, New York 2016
STATEN ISLAND, NY – Michael Pucciarelli, 43, of Staten Island, New York, has been charged with manipulative trading practices by the U.S. Commodity Futures Trading Commission (CFTC), the agency announced April 5, 2016. Pucciarelli, who also owns Badge Trading LLC, engaged in a scheme to manipulate prices on ICE Futures U.S., Inc. and ICE Clear…
Salvatore Russo, Reporting Failure, Illinois 2016
Salvatore Carmen Russo of Wheaton, Illinois, has been charged with aiding and abetting violations of Commodity Futures Trading Commission (CFTC) regulations, the agency announced May 9, 2016. The charges stem from failures by his former employer, Cunningham Commodities, LLC, a Chicago-based Futures Commission Merchant (FCM). The CFTC found that Cunningham Commodities failed to immediately report…
