The Commodity Futures Trading Commission (CFTC) announces the U. S. District Court for the Southern District of Florida entered a consent order today imposing a permanent injunction, restitution, and civil monetary penalty against Empires Consulting Corp., a Florida corporation that operated commodity pools under the name EmpiresX.
The order finds, among other things, Empires Consulting defrauded participants in unlawfully operated commodity pools without being registered as required and commingled participant funds. The order resolves the CFTC’s June 30, 2022 claims against Empires Consulting.
Under the terms of the order, Empires Consulting is required to pay $32,178,397 in restitution and a civil monetary penalty in the same amount, totaling $64,356,794 in fines. The order also permanently prohibits Empires Consulting from engaging in further violations of the Commodity…
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