The Commodity Futures Trading Commission (CFTC) has secured an entry of default against Mark A. Ramkishun, operator of a purported commodity pool called Leo Growl LLC. This happens shortly after the regulator had requested such a certificate.
Let’s note that the certificate of default is a formal step in legal proceedings. It usually precedes the motion for default judgment, which stipulates any penalties, such as bans and fines.
The CFTC complaint alleges that beginning in at least March 2019 and continuing through at least September 2021, Ramkishun, acted as an unregistered commodity pool operator to fraudulently solicit and receive funds from more than 30 pool participants for the purpose of trading, among other things, commodity futures and options…
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