Dennis K. Thomas, Registration Violations, Florida 2022

WASHINGTON, D.C. – Dennis K. Thomas and John J. Bartoletta, both residents of Florida, have been charged with violating commodity trading regulations, the Commodity Futures Trading Commission (CFTC) announced on January 27, 2022. The CFTC issued an order filing and simultaneously settling charges against the pair for registration and reporting violations under the Commodity Exchange Act (CEA) and CFTC regulations.

The order alleges that Thomas acted as an unregistered associated person (AP) for a commodity pool operator (CPO) and failed to adhere to reporting and recordkeeping requirements. Bartoletta is accused of functioning as an unregistered AP for a CPO and also as an unregistered commodity trading advisor (CTA).

According to the CFTC, from approximately August 2015 through March 2017, Thomas and Bartoletta operated a commodity pool through Capital Trading Advisory Group LLC (CTAG), a now-defunct Florida-registered corporation based in Seminole, Florida. They allegedly accepted funds from at least 35 individual participants. Thomas, the sole owner of CTAG, is accused of soliciting and collecting funds as an unregistered AP. The CFTC claims he also operated the pool under a false exemption claim and failed to provide necessary disclosure statements and reports.

Bartoletta allegedly provided commodity trading advice to pool participants and directed trades in the account holding participant funds without being registered as a CTA. He also reportedly acted as an unregistered AP by soliciting funds from prospective pool participants.

The order requires both Thomas and Bartoletta to jointly and severally pay a $280,000 civil monetary penalty and to cease and desist from further violations of the CEA and CFTC regulations. The CFTC acknowledged the assistance of the National Futures Association and the Federal Bureau of Investigation Tampa Field Office in the case.

Source: CFTC.gov

Source: https://www.cftc.gov/PressRoom/PressReleases/8485-22