Action against Respondent, a commodities floor broker, for alleged unauthorized trading and misappropriation.  According to the CFTC, Respondent falsely represented to clients that he was a registered commodity trading adviser and associated person of a registered introducing broker.  The CFTC further alleges that Respondent misappropriated client funds to pay personal expenses.  Respondent has agreed to pay a civil penalty of $250,000, restitution of $55,000, and post-judgment interest, and to permanent trading and registration bars.

CFTC Order

CFTC Press Release