CFTC Charges Florida Resident Michael J. Riolo and His Two Companies with Fraud in Alleged Multi-Million Dollar Foreign Currency Scam
The U.S. Commodity Futures Trading Commission (CFTC) today charged Michael J. Riolo of Boca Raton, Florida, and two companies he controls and owns, LaSalle International Clearing Corporation and Sterling Wentworth Currency Group, Inc., with fraudulently soliciting and receiving funds from members of the general public in an off-exchange foreign currency (forex) scam and providing their [...]
Delaware Resident Kenneth Branch and his company, Cocoon Trade, Inc., Ordered to Pay More than $1.5 Million in Restitution and Penalties in CFTC Commodity Pool Fraud Action
The U.S. Commodity Futures Trading Commission (CFTC) announced today the entry of a Consent Order of Permanent Injunction against Kenneth L. Branch (Branch) of New Castle, Delaware and a Default Judgment Order (Default Order) against Cocoon Trade, Inc (Cocoon). The Orders require Branch and Cocoon collectively to pay $632,787 in restitution to defrauded customers and [...]
CFTC Extends Public Comment Period on Concept Release Regarding Review of Exemptions for Swap Dealers
The Commodity Futures Trading Commission (CFTC) is extending the public comment period on the concept release regarding review of exemptions for swap dealers.
The comment period for this request is set to expire on May 26, 2009, but based on several public requests for an extension, the Commission is extending the comment period for an additional [...]
CFTC Charges Texas A&M Finance Professor Robert Watson, and Texas Attorney Daniel Petroski and their Companies with Fraud in Multi-Million Dollar Forex Scheme
The U.S. Commodity Futures Trading Commission (CFTC) today charged Robert D. Watson (Wastson), an executive professor in the Department of Finance at Texas A&M University’s Mays Business School, Daniel J. Petroski (Petroski), a Texas lawyer and certified public accountant, with orchestrating a multi-million dollar fraudulent off-exchange foreign currency (forex) scheme. Watson and Petroski managed two [...]