Milwaukee, WI – Robert Narvett, a Wisconsin resident, has been permanently banned from trading commodities and registering with the Commodity Futures Trading Commission (CFTC) following a years-long investigation into a fraudulent scheme. The U.S. District Court for the Eastern District of Wisconsin entered a consent order against Narvett on December 18, 2025, requiring him to pay over $185,000 in restitution to victims.
The CFTC initially filed an enforcement action against Narvett in March 2021, alleging fraud, misappropriation of funds, and illegal activity as a commodity trading advisor. Court findings revealed that from at least December 2013 through March 2021, Narvett convinced clients to allow him to manage their commodity futures accounts. He then allegedly abandoned these clients after losing their money through trading and by diverting their investments for his own use.
Prosecutors say Narvett actively misled potential clients, making false claims about his trading successes and methodologies. He also failed to disclose that he was not a registered commodity trading advisor, a requirement under the Commodity Exchange Act. Further compounding the issue, Narvett concealed a prior federal court judgment against him stemming from a separate fraudulent investment scheme pursued with the Securities and Exchange Commission (SEC).
This CFTC action runs parallel to a criminal case brought by the U.S. Attorney’s Office for the Eastern District of Wisconsin. In that case, Narvett was charged with wire fraud, bank fraud, money laundering, and aggravated identity theft. He pleaded guilty in May 2022 to one count each of wire fraud and money laundering and was subsequently sentenced to 15 years in prison. The court also ordered him to pay $1.68 million in restitution as part of the criminal proceedings.
The CFTC collaborated with the U.S. Attorney’s Office and the FBI throughout the investigation. CFTC staff members Dmitriy Vilenskiy, Julia C. Colarusso, Paul G. Hayeck, and former staff members Luke Marsh and A. Daniel Ullman II were instrumental in pursuing the case.
Source: CFTC.gov
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