USA: Individual, company ordered to pay $360,000 for commodity pool solicitation fraud
On January 23, 2012 U.S. Commodity Futures Trading Commission (CFTC) announced that it filed and simultaneously settled charges against Timothy Michael Murphy of Redding, Conn., and his New York-based company, Centurion Global Capital Management LLC (CGCM), for fraudulently soliciting at least 40 customers to participate in a commodity pool. The CFTC’s order requires Murphy and CGCM jointly and severally to pay both a $140,000 civil monetary penalty and restitution of $220,000. The order also permanently prohibits CGCM and prohibits Murphy for a five-year period from trading on a CFTC-registered entity and from registering or seeking exemption from CFTC registration.
The original article can be found at U.S. Commodity Futures Trading Commission .
