CFTC Fines STA Opus Fraudsters $4.5 Million for Operating Investment Scam

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CFTC Fines STA Opus Fraudsters $4.5 Million for Operating Investment Scam

Postby kreslik.news » Thu Nov 16, 2017 9:44 pm


The US Commodity Futures Trading Commission (CFTC) today received a California federal judge’s blessing to fine bankrupt firm STA Opus and its founder more than US $4.5 million for the firm’s nearly 3-year fraud scheme.


Gerard Suite, the sole owner and operator of the unregulated investment pool, was ordered to pay $1,127,855 in restitution for defrauded participants and $3,383,565 in civil penalties. Today’s fines and penalties come on top of the $2.5 million that Gerard was ordered to pay last year, when he pled guilty to conducting business as an unregistered investment advisor in California.

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