WASHINGTON, D.C. – Commodity pool operator John G. Wilkins of Chuluota, Florida, is facing permanent revocation of his CFTC registration following allegations of fraud and misappropriation of funds, the Commodity Futures Trading Commission announced on November 25, 2014.
Wilkins, a principal and managing member of Altamont Global Partners LLC, based in Longwood, Florida, was also subject to a Notice of Intent to revoke Altamont’s registration. The CFTC alleges both Wilkins and the company are statutorily disqualified from future registration due to prior court orders.
The U.S. District Court for the Middle District of Florida previously found that Wilkins and Altamont misappropriated funds from commodity pool participants and issued false quarterly statements. These findings resulted in a default judgment and a permanent injunction issued on February 20, 2014, and July 8, 2014, respectively. The injunction permanently bars both Wilkins and Altamont from violating anti-fraud provisions of the Commodity Exchange Act and from seeking future registration with the CFTC.
Further compounding the charges, Wilkins was convicted on January 23, 2014, by the same district court of conspiracy to commit mail and wire fraud related to the same activities. He was sentenced to 108 months – nine years – in federal prison for the crime.
The CFTC’s Division of Enforcement, led by Rachel Hayes, Peter Riggs, and Charles Marvine, is pursuing the registration revocation. The case highlights the CFTC’s commitment to protecting commodity pool participants from fraudulent activity and holding those responsible accountable.
Source: CFTC.gov
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