Pennsylvania Resident Charged by CFTC with Defrauding 4 People of $825,000

[kreslik.news]

The US Commodity Futures Trading Commission charged William H. Powderly IV with fraudulently soliciting four investors. According to an official announcement made by the regulator, the individual that is a resident of New Hope, Pennsylvania defrauded his victims with at least
$825,000.

Mr Powderly claimed to the individuals that he will use the funds to place trades on the commodities futures markets. To encourage his victims to entrust him with the funds, he stated that he’s been working with a university professor on a trading system. The funds were deposited to an account on his own personal ... (read more)