Former commodities trader, companies to pay more than $4.7 million for commodity pool fraud, misappropriation
( March 22, 2016, 20:53 GMT | Official Statement) -- MLex Summary: The US Commodity Futures Trading Commission announced on Tuesday that a federal court has ordered former commodities trader John David Stroud and his companies, Stroud Capital Management, TS Capital Partners, and TS Capital Management, to pay a total of $4.7 million in restitution and a civil monetary penalty for fraud and misappropriation in operating two commodity pools. In a related criminal action, Stroud pleaded guilty to one count of securities fraud in 2013 and was sentenced to ten years imprisonment and ordered to pay $2.1 million in restitution.Statement follows in full. Also see document below. ...
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