The U.S. Commodity Futures Trading Commission (CFTC) has charged Emini Experts LLC (Emini), Capital Trading Concepts LLC (Capital Trading), and Dante S. Giovannetti (Giovannetti), all of Orlando, Florida, with a fraudulent investment scheme in which they used fictitious trading account statements to solicit nearly $700,000 from investors.
The CFTC complaint alleges that the false trading account statements show tens of millions of dollars in fictitious profits from trading Emini S&P 500 futures contracts and over $53 million in cash on deposit as of July 31, 2014. The complaint further alleges that Emini, Capital Trading, and Giovannetti acted as unregistered Commodity Pool Operators and co-mingled pool funds with non-pool property.
A Federal Court has entered a restraining Order freezing all assets and prohibiting any destruction of books and records. The CFTC is seeking disgorgement of ill-gotten gains, restitution to the defrauded pool investors, monetary penalties and permanent registration and trading bans, as charged.
Attorney Pearce has successfully defended clients involved in CFTC investigations and enforcement proceedings since the mid-1980s. In fact, he is currently involved in several CFTC investigations and defending clients involved in leveraged precious metals businesses. Recently, Mr. Pearce obtained a full dismissal of all claims made against his brokerage client in a leveraged precious metals arbitration proceeding.
Have you have been contacted by the CFTC or believe that you may be subject of an investigation? If so, call Mr. Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce defends various entities and individuals who may be the subject of a CFTC investigation or enforcement action regarding their alleged involvement in commodities laws violations.
This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over , Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to representing investors and financial industry professionals throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at email@example.com for answers to any of your questions about this blog post and/or any related matter.