{"id":1607,"date":"2015-03-07T21:35:15","date_gmt":"2015-03-07T21:35:15","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/03\/district_court_imposes_26_comm"},"modified":"2022-03-18T16:15:39","modified_gmt":"2022-03-18T21:15:39","slug":"district-court-imposes-26-comm","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/district-court-imposes-26-comm\/","title":{"rendered":"District Court Imposes $26M Commodity Pool Fraud Penalty"},"content":{"rendered":"<p>\t\t\t\tThe U.S. District Court for the Southern District of New York says that Mark Evan Bloom and his North Hills Management, LLC (NHM) must together pay a $26 million civil penalty for running North Hills LP, a<a href=\"https:\/\/www.stockbroker-fraud.com\"> fraudulent commodity pool<\/a>, and misappropriating customer monies.<\/p>\n<p>It was in June 2010 that the court submitted a Consent Order of permanent injunction against the two defendants. The court said that both Bloom and his firm misappropriated around $13 million from North Hills, which they ran for at least seven years. During that period, Bloom kept up a fancy lifestyle, even buying a more than $5 million apartment in Manhattan. <\/p>\n<p>Bloom and NHM were accused of hiding their misappropriation, making misrepresentations and material omissions to pool participants, and issuing false statements about North Hills. A permanent injunction, as well as permanent trading, registration, and solicitation bans were imposed. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/district-court-imposes-26-comm\/\"  title=\"Continue Reading District Court Imposes $26M Commodity Pool Fraud Penalty\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. District Court for the Southern District of New York says that Mark Evan Bloom and his North Hills Management, LLC (NHM) must together pay a $26 million civil penalty for running North Hills LP, a fraudulent commodity pool, and misappropriating customer monies. It was in June 2010 that the court submitted a Consent [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3810],"tags":[2843],"class_list":["post-1607","post","type-post","status-publish","format-standard","hentry","category-cftc","tag-commodity-pool-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>District Court Imposes $26M Commodity Pool Fraud Penalty &#8212; Investor Lawyers Blog &#8212; March 7, 2015<\/title>\n<meta name=\"description\" content=\"The U.S. District Court for the Southern District of New York says that Mark Evan Bloom and his North Hills Management, LLC (NHM) must together pay a $26 &#8212; March 7, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/district-court-imposes-26-comm\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"District Court Imposes $26M Commodity Pool Fraud Penalty &#8212; 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