CFTC Charges NAAM With Illegal Off-Exchange Scheme Worth $2.5M

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CFTC Charges NAAM With Illegal Off-Exchange Scheme Worth $2.5M

Postby » Sun Feb 21, 2016 10:00 pm

The US’ Commodity Futures Trading Commission (CFTC) has issued a civil injunctive enforcement action against North American Asset Management, LLC (NAAM), following the trading of illegal off-exchange instruments that solicited more than $2.5 million, according to a CFTC statement.

NAAM as well as its defendants, Owner and President Alexi Bethel, as well as Owner and Managing Director Steven Labadie were the subject of a formal CFTC complaint in the US Southern District Court of Florida, after a string of complaints and liabilities as outlined under the CFTC’s Commodity Exchange Act (CEA).

More specifically, the complaint charged both individuals with the engagement ... (read more)

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