Milwaukee, WI – Robert Narvett, a Wisconsin resident, has been permanently banned from trading commodities after being found liable for a multi-year fraudulent scheme, the Commodity Futures Trading Commission (CFTC) announced on December 18, 2025. The U.S. District Court for the Eastern District of Wisconsin entered a consent order requiring Narvett to pay over $185,000 in restitution to victims of his fraud.
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 entrust him with managing their commodity futures accounts. He then allegedly abandoned these clients after losing their money through trading and by misappropriating their investment funds.
According to the CFTC, Narvett solicited funds by making false and misleading claims about his trading successes and strategies. He also failed to disclose that he was not registered with the CFTC as a commodity trading advisor – a requirement under the Commodity Exchange Act – and concealed a prior federal court judgment against him stemming from a fraudulent investment scheme brought by the Securities and Exchange Commission.
This CFTC action runs parallel to a criminal case pursued by the U.S. Attorney’s Office for the Eastern District of Wisconsin. Narvett was charged with wire fraud, bank fraud, money laundering, and aggravated identity theft in 2021. In May 2022, he pleaded guilty to one count each of wire fraud and money laundering, receiving a 15-year prison sentence and an order to pay $1.68 million in restitution.
The CFTC acknowledged the assistance provided by the U.S. Attorney’s Office for the Eastern District of Wisconsin and the FBI throughout the investigation. Dmitriy Vilenskiy, Julia C. Colarusso, and Paul G. Hayeck of the CFTC’s Division of Enforcement, along with former staff members Luke Marsh and A. Daniel Ullman II, were responsible for the case.
Source: CFTC.gov
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