A chief compliance officer of an investment firm settled CFTC charges for fraudulently soliciting investments in commodity pools and misappropriating investor funds. The officer was also charged with making false statements to NFA.
To settle the CFTC charges, the officer, who neither admitted nor denied the allegations and who was recognized for cooperating with the investigations, agreed to pay restitution of $125,000 and a civil monetary penalty of $25,000 among other sanctions.
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