ATLANTA, GA – Robert A. Christy, of Georgia, faces the revocation of his financial registrations following a CFTC notice filed January 28, 2013, alleging fraud and misappropriation of funds. The Commodity Futures Trading Commission (CFTC) intends to revoke Christy’s registration as an Associated Person, as well as the registration of his firm, Crabapple Capital Group LLC.
The action stems from a consent order issued by the U.S. District Court for the Northern District of Georgia on October 16, 2012. The court found that Christy and Crabapple operated a Ponzi scheme, fraudulently soliciting investors and making false statements to pool participants. The scheme resulted in the misappropriation of over $1 million in funds from those investors.
According to the CFTC, the consent order permanently prohibits Christy and Crabapple from committing further acts of fraud. As part of the order, Christy and Crabapple were held liable for fraud and ordered to pay $1,099,598 in restitution to the victims of the scheme. In addition to restitution, a civil monetary penalty of $1,541,882 was levied against them.
The CFTC’s notice of intent to revoke registrations is based on this statutory disqualification resulting from the court order. Christy is a principal of Crabapple Capital Group LLC, a registered Commodity Pool Operator and Commodity Trading Advisor.
The case was pursued by CFTC staff members Jo Mettenburg, Thomas Simek, Stephen Turley, Charles Marvine, Rick Glaser, and Richard Wagner.
Source: CFTC.gov
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