CFTC ACTION: U.S. District Court Issues Orders Against Four “Operation Wooden Nickel” Defendants

Vito Napoletano and Boris Shuster, of New York, and Patrick Sweeney and Joseph Torre, of New Jersey, ordered to pay more than $7.6 million in restitution and penalties. They were first sued by the CFTC on November 18, 2003, in six civil injunctive actions for engaging in fraud in the sale and solicitation of illegal foreign currency futures contracts. Including today’s announcement, Judge Daniels has entered several orders imposing more than $26 million in restitution and more than $19 million in civil monetary penalties against 36 Wooden Nickel defendants.

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