CFTC Fines Unregistered Commodity Trader $500,000 to Settle Fraud Charges

[kreslik.news]

A Georgia resident trader and his defunct firm will pay $500,000 to settle the U.S. Commodity Futures Trading Commission’s allegations that they conducted illegal transactions with retail customers, provided fraudulent misrepresentations and acted as an unregistered commodity pool operator.

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Arthur Toole III of Atlanta, Georgia, and his companies Billionaire Investor Group (BIG), The Toole Group Inc. (Toole Group) and Catalyst Traders LLC (Catalyst), were ordered to pay the fine to settle charges that they allegedly operated three commodity pools while not being registered ... (read more)