Federal Court Fines Unregulated Money Manager $4.4m for Soliciting Customers

[kreslik.news]

The U.S. Commodity Futures Trading Commission (CFTC) today reported that it obtained a federal court judgment against a Cayman Islands corporation and its principle requiring them jointly to pay restitution of more than
$4.4 million to defrauded U.S. customers.

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The court’s order, entered by Judge Loretta Biggs of the U.S. District Court for the Middle District of North Carolina, finds that Tracy Lee Thomas and his Cayman Islands-based Marbury Advisors Inc. solicited and obtained a sum in excess of $1.1 million from U.S. ... (read more)