Tag: Illinois
Brett Falloon, Spoofing, Illinois 2025
CHICAGO, IL – September 9, 2025 – Commodity trader Brett Falloon has been charged with spoofing in the E-mini S&P 500 and E-mini Nasdaq 100 futures markets, the Commodity Futures Trading Commission (CFTC) announced today. Falloon, trading on behalf of Flatiron Futures Traders LLC, allegedly engaged in the manipulative practice of spoofing between May and…
Kevin Crepeau, Spoofing, Illinois 2019
CHICAGO, IL – Kevin Crepeau, a trader from Chicago, Illinois, has been penalized by the Commodity Futures Trading Commission (CFTC) for engaging in spoofing practices in the soybean futures market, officials announced January 31, 2019. The CFTC issued an order detailing the charges and settlement. According to the CFTC, between August 2013 and June 2016,…
James McDonald, Market Manipulation, Illinois 2019
WASHINGTON, D.C. – Eagle Market Makers, Inc. has been slapped with a $350,000 penalty by the Commodity Futures Trading Commission (CFTC) for engaging in manipulative trading practices, the agency announced today, June 28, 2019. The Illinois-based firm was found to have executed wash sales and noncompetitive transactions on the Chicago Board of Trade (CBOT) and…
Benjamin Cox, Spoofing, Illinois 2019
Chicago trader Benjamin Cox has been penalized by the U.S. Commodity Futures Trading Commission (CFTC) for engaging in spoofing, a form of market manipulation, between April 2014 and February 2018. The charges stem from Cox’s activity in the Chicago Mercantile Exchange (CME) E-mini S&P 500 and E-mini Nasdaq 100 futures markets. According to the CFTC…
Samuel Lim, Aiding & Abetting Fraud, Illinois 2023
WASHINGTON D.C. – Former Binance Chief Compliance Officer Samuel Lim faces a $1.5 million penalty and a lifetime ban from certain financial activities following a settlement with the Commodity Futures Trading Commission (CFTC). The proposed consent order, submitted to U.S. District Judge Manish Shah in the Northern District of Illinois on November 21, 2023, resolves…
Hiam Hmaidan, Unemployment Insurance Fraud, Illinois 2026
Hiam Hmaidan, a Chicago tax preparer, has been convicted of a brazen unemployment insurance fraud scheme that left a trail of devastation in its wake. The 48-year-old’s scheme, which spanned from May 2020 to December 2022, saw her and her co-conspirators submit nearly 700 fraudulent claims to a COVID-19 assistance program. The result? A staggering…
Jose Gregorio Sosa Cardona, Immigration Fraud, Child Pornography, Tax Offenses, Illinois 2026
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Raed Naser, Wire Fraud and Money Laundering, Illinois 2026
⏱ 2 min read Raed Naser, a 41-year-old suburban Chicago businessman, has been charged with orchestrating a pair of fraud schemes that netted him over $4 million. The schemes involved submitting false invoices for nonexistent freight shipping and selling bakery franchises to an unsuspecting buyer after fraudulently inflating their value. Naser, who owned a freight…
Tony Clapp, Attempting to Possess with Intent to Distribute Methamphetamine, Illinois 2025
⏱ 2 min read Tony Clapp, a 62-year-old Sterling, Illinois man, attempted to traffic a large quantity of methamphetamine from California to Illinois in February 2022. Clapp, who was already on court-supervised release following a 2008 federal prison sentence for cocaine distribution, arranged for the purchase and delivery of approximately three kilograms of pure methamphetamine.…
B.E.S.T. Gdr, LLC and Yosef Bernath, Consumer Fraud, Illinois 2024
B.E.S.T. GDR, LLC, doing business as Premium Home Service, and its CEO, Yosef Bernath, were charged with violating federal and state law in connection with the sale of home repair and improvement services, according to a complaint filed in the U.S. District Court for the Northern District of Illinois. The defendants allegedly orchestrated a nationwide…
