Commodity Futures Trading Commission Archives

Federal Court Orders Florida Men to Pay Over $1.6 Million for Precious Metals Fraud

March 3, 2022 by Clinton

The following is a Press Release from the Commodity Futures Trading Commission (CFTC) announcing that a Federal Court has ordered Marvin W. Courson III and Christopher A. Kertatos to pay over $1.6 million in fines and penalties as part of a precious metals fraud case. The $1.6 penalty includes over $700,000 in restitution payments. The Commodity Futures Trading Commission today announced the U.S. District Court for the Middle District of Florida entered consent orders on …

CFTC Announces Fraud Charges Against California Precious Metals Dealer

February 4, 2022 by Clinton

The following is a Press Release Commodity Futures Trading Commission (CFTC) announcing it, along with 27 stat securities regulatory agencies, have announced a civil enforcement action against Safeguard Metals LLC. The complaint contends the company perpetrated a fraud that solicited and received approximately $68 million in funds to purchase precious metals and overpriced silver coins. The Commodity Futures Trading Commission and 27 state securities regulatory agencies that are members of the North American Securities Administrators …

Federal Court Orders The Alista Group, LLC and Florida Man to Pay More Than $2.6 Million in Precious Metals Fraud

April 15, 2021 by Clinton

The following is a Press Release from the Commodity Futures Trading Commission (CFTC) announcing the judgement against The Alista Group and Luis M. Pineda Palocios for engaging in precious medal fraud as well as off-exchange precious medal sales to retail customers. The Commodity Futures Trading Commission announced today that the U.S. District Court for the Middle District of Florida entered an order granting the CFTC’s motion for entry of default judgment against defendants The Alista Group, …

CFTC Charges Georgia Company and Florida Residents with Precious Metals Fraud and Misappropriation of Nearly $900,000

July 20, 2020 by Clinton

The following is a Press Release from the Commodity Futures Trading Commission (CFTC) outlining a precious metal fraud and misappropriation of nearly $900,000 in funds. Washington, D.C. — The Commodity Futures Trading Commission filed a civil enforcement action in the U.S. District Court for the Middle District of Florida against The Alista Group, LLC (Alista), owner Marvin W. Courson III, and company employees Christopher A. Kertatos and Luis M. Pineda Palacios a/k/a Luis Pineda, for fraud, engaging in illegal, off-exchange transactions in precious metals, …