CFTC Fines Commodity Trader $3 Million for Operating Illegal Metals Scheme

[kreslik.news]

A Florida federal judge banned a metals trader and his defunct firm from commodities trading and fined them
$3 million for allegedly conducting illegal, off-exchange transactions with retail customers on borrowed money, the U.S. Commodity Futures Trading Commission (CFTC) said Wednesday.

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The default judgement order, issued today by Judge William P. Dimitrouleas of the U.S. District Court for the Southern District of Florida, follows a CFTC complaint filed in February 2016 against Joseph Charles DiCrisci and his firm Oakmont Financial ... (read more)