POMONA, CA – September 10, 2012 – Scott Geisinger of San Dimas, California, has been charged with violating CFTC registration requirements in a civil enforcement complaint filed by the U.S. Commodity Futures Trading Commission (CFTC) in the U.S. District Court for the Central District of California. The complaint alleges Geisinger acted as an unregistered Associated Person (AP) of a Commodity Trading Advisor (CTA).
The CFTC alleges that Lincolnshire Trading Partners, LLC., a New York entity with operations in Pomona, California, functioned as an unregistered CTA. Geisinger, as a partner, officer, or employee of Lincolnshire, allegedly solicited clients for discretionary accounts in retail, leveraged foreign currency (forex) transactions without being properly registered with the CFTC.
According to the complaint, from at least October 18, 2010, through September 2012, Lincolnshire exercised discretionary trading authority over forex accounts for individuals who did not qualify as eligible contract participants. Geisinger is accused of facilitating this unregistered activity by soliciting clients for these accounts.
The CFTC seeks injunctive relief, disgorgement of ill-gotten gains, and civil monetary penalties against both Lincolnshire Trading Partners, LLC and Scott Geisinger. The specific penalty amounts have not yet been determined by the court. The U.S. Attorney’s office for the Central District of California and the U.K. Financial Services Authority assisted in the investigation.
The case is being pursued by CFTC staff members Jason Mahoney, Timothy J. Mulreany, George Malas, Paul Hayeck, and Joan Manley.
Source: CFTC.gov
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