CFTC ACTION: Raleigh Capital Management Inc.

The CFTC announced that it obtained an emergency court order freezing assets held by defendants Raleigh Capital Management Inc. of Chicago and its sole principal, Richmond Hamilton, Jr., who resides in Morocco. The emergency order stems from a CFTC complaint filed on October 28, 2009, in the U.S. District Court for the Northern District of Illinois, charging RCM and Hamilton with misappropriating more than $1 million since May 2004 from the Raleigh Fund, LP., an $8.3 million commodity pool organized by Hamilton in 1987. Hamilton also made false statements to the NFA in the course of the NFA’s audit of the Raleigh Fund about the extent of his personal bank accounts and his administration of the Fund, the complaint charges.

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.