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The US Commodity Futures Trading Commission (CFTC) announced today that a California court has ordered Ralph Metters to pay a $500,000 penalty resulting from fraudulent gains in connection with off-exchange foreign currency (forex) violations of the Commodity Exchange Act (CEA).
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The court order has also permanently prohibited Metters, also known as Malachai “Moe” Levy, from further violations of the CEA and has imposed permanent trading and registration bans on him.
The decision stems from a CFTC enforcement complaint filed on 20 August, 2014 charging Metters ... (read more)