Lehi, Utah – The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Kimball Parker and his company, MakeYourFuture, LLC, along with Timothy Baggett and his companies, Changes Worldwide LLC and Changes Trading LLC, alleging a fraudulent scheme targeting futures traders.
The lawsuit, filed in the U.S. District Court for the District of Utah, accuses the defendants of misrepresenting the profitability and success of a futures trading system sold to at least 289 customers. The CFTC alleges that Parker, of Lehi, Utah, and Baggett, of Lakeland, Florida, collectively defrauded customers out of more than $853,294.98.
According to the complaint, the defendants made false claims in marketing materials, on their websites, and during direct communications with potential customers. These claims included assertions that the trading system “never had a losing month” and generated annual returns of 300%. Defendants allegedly supported these claims with fabricated “documented and verifiable results” showing monthly returns between 11% and 68% in 2014. However, the CFTC contends these results were not based on actual trading of real money.
The investigation revealed that Parker and Baggett consistently lost money in their own futures trading accounts, and customers using the system also consistently experienced losses – a fact the defendants were reportedly aware of through customer complaints. The CFTC further alleges the defendants failed to provide legally required disclosures regarding hypothetical trading results and customer testimonials.
The scheme extended to a “live training room” presented as a demonstration of the system’s effectiveness. The CFTC alleges this room primarily showcased simulated trading in a demo account, creating the illusion of profits unattainable in real-world trading. Similarly, a purportedly automated trading “robot” offered for sale was claimed to have a “+90% success rate!” – a claim the defendants admitted, during the investigation, was false and that the robot did not function as advertised, resulting in customer losses.
The CFTC is seeking restitution for defrauded clients, disgorgement of ill-gotten gains, a civil monetary penalty, and a permanent ban on future trading activities by the defendants.
Source: CFTC.gov
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