SAN DIEGO, CA – Charles Steven Goodie, 51, of San Diego, California, has been penalized $700,000 and permanently banned from trading and registration after admitting to defrauding investors, the Commodity Futures Trading Commission (CFTC) announced Friday, August 31, 2012.
Judge William Q. Hayes of the U.S. District Court for the Southern District of California entered a consent order on August 23, 2012, finding that Goodie and his company, CSG Commodity Service Group (CSG), violated anti-fraud provisions of the Commodity Exchange Act. The order also mandates Goodie pay $494,633 in restitution to victims.
The CFTC initially filed a complaint against Goodie and CSG on November 23, 2011, alleging solicitation fraud, false statements, misappropriation of investor funds, improper operation of a commodity pool, and failure to comply with registration and disclosure requirements.
According to the order, from May 2008 through March 2011, Goodie and CSG fraudulently obtained approximately $494,000 from 15 individuals by promising profits from trading futures contracts in silver, copper, natural gas, and oil. However, Goodie allegedly used a portion of the funds for personal expenses and provided investors with falsified account statements.
In a separate criminal case, Goodie pleaded guilty to one count of wire fraud in the Southern District of California. He is currently free on a $100,000 personal recognizance bond and is scheduled to be sentenced on November 5, 2012, at 8:30 a.m.
The CFTC worked in conjunction with the U.S. Attorney’s Office for the Southern District of California and the Federal Bureau of Investigation on this case.
Source: CFTC.gov
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