Action against Defendant trader for alleged misappropriation of investor funds, fraudulent solicitation, and registration violations. According to the CFTC, Defendant misappropriated funds that he fraudulently solicited from participants in a commodity pool of off-exchange binary options. The CFTC alleges that Defendant made false and misleading representations to participants regarding the use of funds and falsified documents related to available funds. Defendant has agreed to pay $554,375 in restitution and civil penalties.

CFTC Press Release

CFTC Order