The US Commodity Futures Trading Commission (CFTC), based on an order entered on March 21, 2011, by the US District Court for Southern District of New York (SDNY), the court-appointed Receiver, Robb Evans & Associates, LLC, has begun an initial
The US Commodity Futures Trading Commission (CFTC) on April 15, 2011, obtained a federal court order imposing more than USD12 million in restitution and civil monetary penalties on defendants Brian Kim and his company, Liquid Capital Management, LLC (LCM), for
The Securities and Exchange Commission has obtained an emergency court order to shut down a Beverly Hills, California hedge fund and wealth management business targeting retirees, university professors, and members of the Christian community. The SEC alleges that IU Group
Mark Evan Bloom and his firm North Hills Management are jointly to pay a USD26 million fine to settle CFTC charges over the operation of a fraudulent commodity pool, North Hills LP. Previously, on 11 June, 2010, the court entered
The Alternative Investment Management Association says the proposed asset threshold for firms required to contribute to the US Systemic Resolution Fund would impose disproportionately high costs on hedge fund managers. Andrew Baker (pictured), chief executive of Aima, says the Financial
The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against Howard Winell, Winell Associates, Inc and Maxie Partners GP over unauthorised trading and misappropriating funds in connection with operating a commodity futures and options pool. The
A federal court in Oklahoma City has entered a restraining order against defendants Kenneth W. Lee, Simon Yang, Prestige Ventures and Federated Management Group freezing assets controlled by the defendants, protecting records and appointing a temporary receiver to locate and
The US Commodity Futures Trading Commission has obtained a default judgment order requiring Robert J. Sucarato to pay USD800,000 in restitution and a USD1.2m civil monetary penalty for fraudulently soliciting commodity pool participants to trade futures and options through his
The Commodity Futures Trading Commission and the Securities and Exchange Commission have issued two joint orders related to security-based futures contracts that clarify each commission’s respective jurisdiction and allow additional products to underlie security futures. The first joint order excludes
The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action charging Jeffrey L Groendyke of Middleville, Michigan, doing business as JG Forex Fund (JGF), with fraud and misappropriation in connection with an off-exchange foreign currency (forex) Ponzi scheme
