The Commodity Futures Trading Commission (CFTC) today announced it filed a complaint in the U.S. District Court for the Southern District of Florida against Systematic Alpha Management, LLC (SAM), a registered commodity trading advisor (CTA) and commodity pool operator (CPO), and Peter Kambolin, its owner and registered associated person.
The complaint charges SAM and Kambolin with unfairly allocating trades between certain commodity pools and managed account customers and certain of their proprietary accounts. They are also charged with making misrepresentations to pool participants and managed account customers and violating CFTC regulations governing the allocation of trades.
SAM and Kambolin defrauded pool participants and managed account customers and generated at least $1,451,559 in total trading profits for their proprietary accounts.
On…
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