Robert D. Bame will pay no less than $46.9 million in restitution and civil monetary penalties to the US Commodity Futures Trading Commission (CFTC).

Mr. Bame and his company, Forward Investment Group, LLC (Forward), have been charged with giving incorrect commodity trading statements to commodity pool clients and making it appear that his firm had a multi-million dollar portfolio. In actuality, Bame misappropriated most his clients’ $20 million investment funds by, among other things, buying motor vehicles and renting private jets.

Robert D. Bame who comes from Moreno Valley, California is presently serving his 8 year plus prison term sentence in a related criminal matter after pleading guilty to wire fraud and engaging in monetary transactions with property derived from specified unlawful activity.

Reference: http://www.cftc.gov/PressRoom/PressReleases/pr5994-11.html