The complaint also claims Eustace concocted fake trading records for two other pools to indicate profits on derivatives trading, when in fact the pools' derivatives accounts had lost 50% of their value. The pools had a total of over $230 million invested, the CFTC complaint says.
The case will come before the Pennsylvania Eastern District Court on August 16. The CFTC, backed by the National Futures Association, is seeking a permanent injunction against Eustace, the return of the money and a further fine.
The week on Risk.net, July 7-13, 2018Receive this by email