HOUSTON, TX – Jonathan Hansen was ordered to pay over $1.36 million in restitution and penalties for defrauding investors in a commodity pool scheme, the Commodity Futures Trading Commission (CFTC) announced today, February 12, 2013. The U.S. District Court for the Southern District of Texas issued a permanent injunction against Hansen and his firm, J. Hansen Investments, LLC, barring them from future trading and registration.
The court order, entered by Judge Nancy F. Atlas, stems from a CFTC complaint filed August 24, 2012, alleging fraud and misappropriation. Hansen, the owner and sole employee of J. Hansen Investments, fraudulently solicited over $1.1 million from investors with the promise of trading E-Mini S&P 500 futures contracts. However, the CFTC found that Hansen only used a fraction of the funds for actual trading.
According to the order, Hansen transferred investor funds to personal and firm futures trading accounts that consistently suffered losses. He then allegedly misappropriated funds for personal use and commingled them with pool funds. To conceal the scheme, Hansen issued falsified monthly account statements and trading memoranda, falsely reporting profits and returns to investors.
The court has mandated Hansen and J. Hansen Investments to jointly pay approximately $878,000 in restitution to the defrauded investors, as well as a $483,900 civil monetary penalty. Hansen is also permanently prohibited from violating the anti-fraud provisions of the Commodity Exchange Act. The CFTC noted the assistance of the National Futures Association in the investigation.
The case was led by CFTC staff members Danielle E. Karst, George Malas, Christine Ryall, Paul G. Hayeck, and Joan Manley.
Source: CFTC.gov
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