Futures | Commodities | Forex
CFTC ACTION: Maize Capital Management LLC et al.
Posted by Felix Shipkevich on Sep 4, 2009 | 1 comment
The CFTC sued Illinois-based Maize Capital Management LLC, Maize Asset Management LLC, and chief operating officer Scott M. Ross. The CFTC alleged that the entities involved misrepresented facts regarding the qualifications of investors who would participate in a $6 million commodity pool. Further, periodic account statements misrepresented the profitability of customer accounts and customer funds were mishandled.
About The Author
Felix Shipkevich
Felix Shipkevich is a Manhattan-based attorney and general counsel for Shipkevich Law Firm. He has extensive experience working with the CFTC and NFA on registration, compliance, and enforcement issues for CPOs, CTAs, FCMs, IBs, and RFEDs. Felix also practices intellectual property and corporate governance law.One Response to “CFTC ACTION: Maize Capital Management LLC et al.”
Leave a Reply
COMPLAINT FOR INJUNCTIVE AND OTHER EQUITABLE RELIEF AND FOR PENALTIES UNDER THE COMMODITY EXCHANGE ACT
COUNT ONE
Violations of Section 4b(a)(1)(A) through (C) of the Act as Amended by the CRA:
Fraud by Misrepresentation and False Statements in Connection with On-Exchange Futures Contracts
COUNT TWO
Violations of Section 4b(a)(2)(A) through (C) of the Act as Amended by the CRA:
Fraud by Misrepresentation and False Statements in Connection with Off-Exchange Forex Transactions
COUNT THREE
Violations of Section 4o(1)(A) and (B) of the Act:
Fraud by a Commodity Pool Operator
COUNT FOUR
Violation of Section 4m of the Act:
Acting as a Commodity Pool Operator without Registration
COUNT FIVE
Violation of Regulations 4.20(b) and 4.30:
Receipt of Customer Funds in an Account
Not in the Name of the Commodity Pool