Tag: Illinois
Shahar Elbaz, Binary Options Fraud, Illinois 2019
Washington, D.C. – On August 12, 2019, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court for the Northern District of Illinois against Shahar Elbaz and three other individuals, along with five entities, alleging fraud related to a global binary options scheme targeting U.S. residents. The defendants…
Nathan Harris, Fraud, Illinois 2020
WASHINGTON D.C. – The Commodity Futures Trading Commission (CFTC) has settled charges against Nathan Harris for his role in a fraudulent trading scheme, according to an order issued September 30, 2020. While the charges were brought against A&A Trading, Inc. for failing to report Harris’s activity, the core of the violation stems from Harris’s unauthorized…
Roman Banoczay Jr, Spoofing, Illinois 2021
CHICAGO, IL – December 8, 2021 – Roman Banoczay Jr. of Bratislava, Slovakia, has been penalized by the Commodity Futures Trading Commission (CFTC) for engaging in a manipulative and deceptive scheme to defraud in the crude oil futures market. The U.S. District Court for the Northern District of Illinois entered a consent order on December…
Alvin Wilkinson, Commodity Pool Fraud, Illinois 2016
Chicago, IL – November 30, 2016 – Alvin Guy Wilkinson, a former leader at the Chicago Board Options Exchange (CBOE), has been slapped with a default judgment and permanent injunction following a Commodity Futures Trading Commission (CFTC) investigation into a multi-million dollar fraud. Judge Virginia Kendall of the U.S. District Court for the Northern District…
Coby Young, Forex Fraud, Illinois 2023
Chicago, IL – November 3, 2023 – Coby Young of Illinois is facing federal charges of fraud, registration violations, and misappropriation of funds following a complaint filed by the Commodity Futures Trading Commission (CFTC) in the U.S. District Court for the Northern District of Illinois. The complaint alleges Young and his firm, Young Emerging Strategies…
Ryan Gruenenfelder, Fraud Awareness, Illinois 2012
Chicago, IL – April 17, 2012 – The Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), and AARP announced a co-sponsored seminar aimed at combating investment fraud targeting individuals and community leaders. The event, titled “Avoiding Fraud is Your Best Money Strategy,” is scheduled for April 26th at the AARP Illinois office in Chicago.…
James Purifoy, Arson, Illinois 2026
⏱ 2 min read James Purifoy, the 51-year-old owner of a Rockford restaurant, intentionally set fire to his establishment on January 22, 2023, and then filed a false insurance claim to collect $305,400. Purifoy, who owned the 15th and Chris restaurant, left the premises before police and fire personnel arrived to put out the fire,…
Navinder Singh Sarao, Spoofing, Illinois 2016
Navinder Singh Sarao, of Illinois, has been ordered to pay $25,743,174.52 in civil penalties and $12,871,587.26 in disgorgement following a judgment entered by Judge Andrea R. Wood of the U.S. District Court for the Northern District of Illinois on November 17, 2016. The Commodity Futures Trading Commission (CFTC) brought the enforcement action against Sarao and…
Eric Schwartz, Spoofing, Illinois 2022
CHICAGO, IL – August 24, 2022 – Eric Schwartz of Chicago, Illinois, has been charged with spoofing commodity futures contracts, the Commodity Futures Trading Commission (CFTC) announced today. The CFTC issued an order simultaneously filing and settling charges against Schwartz for multiple instances of spoofing between April 2020 and July 2020. Spoofing, as defined by…
James C. Lake, Jr., Illegal Possession of a Firearm, Illinois 2026
⏱ 2 min read James C. Lake, Jr., a 53-year-old Chicago man, walked into the Dirksen Federal Building in downtown Chicago on a Monday morning with a loaded semiautomatic handgun, a box cutter, and a jackknife in his bookbag. The incident occurred around 7:40 a.m. in the lobby of the building, which houses several federal…
