Legal & Regulation

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CFTC orders Florida resident and company to pay over USD1m for commodities pool fraud

CFTC orders Florida resident and company to pay over USD1m for commodities pool fraud

The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Matthew . White and MW Global Futures LLC (MWGF), both of Florida, for fraudulently soliciting approximately USD1.2 million for a pooled investment vehicle trading commodity futures contracts, misappropriating over USD280,000 in pool participants’ funds to pay for personal expenses, and operating without registration as required. 

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CFTC charges ‘crypto club’ Q3 and its Principal in USD33m over fraudulent digital asset scheme

CFTC charges ‘crypto club’ Q3 and its Principal in USD33m over fraudulent digital asset scheme

The Commodity Futures Trading Commission has filed a civil enforcement action against defendants Q3 Holdings, and Q3 I, and their principal, Michael Ackerman for fraudulently soliciting over USD33 million to purportedly trade digital assets and misappropriating a substantial portion of the funds raised.

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Commodity pool operator and CEO to pay more than USD10m for misleading statements and supervisory failures

Commodity pool operator and CEO to pay more than USD10m for misleading statements and supervisory failures

The Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Catalyst Capital Advisors, of Huntington, New York, and its CEO, Jerry Szilagyi, for materially misleading statements made by Catalyst and one of its portfolio managers, and for failing to implement an adequate supervisory system to prevent such misstatements.