Washington D.C. – Commodity Futures Trading Commission (CFTC) officials have levied a $192,894.85 penalty against Jason Gospodarek of Wisconsin and his firm, Quantum Financial Network, LLC, for operating illegally and failing to register with the agency. The CFTC issued an order on September 26, 2022, simultaneously filing and settling charges against Gospodarek and his company.
The order mandates a $100,000 civil monetary penalty, along with $92,894.85 in disgorgement – funds obtained through unlawful means that must be repaid. Both Gospodarek and Quantum Financial are also barred from future violations of the Commodity Exchange Act (CEA).
According to the CFTC, from July 2017 to January 2019, Quantum Financial acted as an unregistered introducing broker, directing customers toward overseas leveraged foreign currency (forex) and precious metals trading platforms. The firm reportedly introduced eight commodity pools, comprised of over 150 U.S. retail customers, and received compensation for these referrals. Gospodarek, as the principal and sole employee of Quantum Financial, is held responsible for these unregistered activities.
The investigation further revealed that Gospodarek also functioned as an unregistered associated person of a commodity trading advisor (CTA). Between July 2017 and January 2019, he assisted the CTA in attracting customers and provided trading advice related to leveraged forex and precious metals. This was allegedly accomplished through webinars, videos, and direct responses to customer inquiries. Gospodarek also developed and promoted specific trading strategies to customers.
The CFTC acknowledged the “substantial cooperation” offered by Gospodarek and Quantum Financial throughout the Division of Enforcement’s investigation, which was led by Harry E. Wedewer, K. Brent Tomer, Mary Lutz, Lenel Hickson, Jr., and Manal M. Sultan.
Source: CFTC.gov
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