[item_description], 
CFTC’s complaint states that all of Long Leaf’s customers lost money in “Time Means Money” trading program. Over 400 customers lost approximately $6.1 million, while the company made $4.4 million from commissions.
The Commission seeks restitution for the defrauded customers, return of the gains, monetary penalties and permanent trading ban.
CFTC settled charges against Gecas who was ordered to pay $150,000 penalty and received a four-year trading ban. Leeney was ordered to pay $350,000 and is banned for five years.
Read More:
- Cunningham Commodities agrees to pay $250K for supervision violations
- CFTC charges several companies and individuals for defrauding investors and a church
- CFTC fines Gain Capital UK nearly $500K for registration and supervision violations
The post Long Leaf Trading Group and six employees involved in multi-million dollar options fraud scheme appeared first on LeapRate.
,
ADVERTISEMENT
