| Read Time: 2 minutes | CFTC News |

The U.S. Commodity Futures Trading Commission (CFTC) has ordered New York resident Mark Bloom, along with his firm North Hills Management, LLC to pay a $26 million civil monetary penalty for operating a fraudulent commodity pool called North Hills LP and for misappropriating customer funds.

The CFTC Order states that Mr. Bloom and North Hills Management misappropriated approximately $13 million from North Hills LP between 2002 and 2009. During this time, Mr. Bloom lived a lavish lifestyle, including the purchase of a $5 million Manhattan apartment. The Consent Order found that Mr. Bloom and North Hills Management made several misrepresentations and omissions to pool participants. On July 30, 2009 Mr. Bloom plead guilty to charges of misappropriation and concealment in a parallel criminal proceeding. Mr. Bloom is still awaiting sentencing in his criminal case and will be required to pay restitution in an amount to be decided by the court.

Attorney Robert W. Pearce has successfully defended clients involved in CFTC investigations and enforcement proceedings for more than 40 years. In fact, he is currently involved in a number of CFTC investigations in which he is defending clients who are involved in leveraged precious metals businesses. Recently, Mr. Pearce obtained a full dismissal of all claims against his client in a leveraged precious metals arbitration proceeding.

Have you have been contacted by the CFTC? Do you believe you may be the subject of a CFTC investigation? If so, call Robert W. Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce has the knowledge and experience to defend entities and individuals who may be the subject of a CFTC investigation or enforcement action regarding their alleged involvement in commodities laws violations.

For over 40 years, 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 pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

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Robert Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $125 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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