CFTC Charges Three Commodity Pool Operators With Fraud

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CFTC Charges Three Commodity Pool Operators With Fraud

Postby » Tue Oct 10, 2017 9:21 pm

The U.S. Commodity Futures Trading Commission has charged three commodities pool operators with running a fraudulent fund that took more than USD 3 million from investors to trade futures contracts but lost and misappropriated all invested funds whilst falsely reported returns of more than 20 percent.

Trading of the pool funds by defendants Scott Allensworth and his California company E-Slate, Robert J. Fusco and David Weddle was never profitable, according to the CFTC complaint filed in the U.S. District Court for the Central District of California on October 2, 2017.

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