{"id":1906,"date":"2017-11-11T19:37:53","date_gmt":"2017-11-12T01:37:53","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1906"},"modified":"2022-03-22T15:07:44","modified_gmt":"2022-03-22T20:07:44","slug":"cftc-cases-commodity-investor-fraud-case-results-4-5m-default-ruling-federal-court-orders-arizona-company-owner-pay-2-2m-anti-fraud-case","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/cftc-cases-commodity-investor-fraud-case-results-4-5m-default-ruling-federal-court-orders-arizona-company-owner-pay-2-2m-anti-fraud-case\/","title":{"rendered":"CFTC Cases: Commodity Investor Fraud Case Results in $4.5M Default Ruling and Federal Court Orders Arizona Company &#038; Its Owner to Pay Over $2.2M in Anti-Fraud Case"},"content":{"rendered":"<p>\t\t\t\t<strong>CFTC Secures $4.5M Default Ruling in Investor Fraud Case Against STA Opus <\/strong><br \/>\nThe US Commodity Futures Trading Commission was able to get a default judgment that orders Gerard Suite and his STA Opus to pay over $1.1M in restitution and almost $3.4M in penalties for an alleged <a href=\"https:\/\/www.securities-fraud-attorneys.com\">commodity pool fraud<\/a>. Another defendant, Frank Collins, agreed to pay a $50K penalty and $50K in restitution over allegations that he misappropriated at least $50K from investors.<\/p>\n<p>According to court filings, from 2013 through July 2016, Suite marketed an STA Opus commodity pool that touted yearly returns of 57% to almost 133% despite that nearly all of the money traded was lost. The CFTC said that Suite concealed the losses by sending investors bogus account statements.<\/p>\n<p>The investors were purportedly told that they could invest even more if they sent over personal checks that were voided. Suite allegedly used the routing and account information to get new checks. This made it possible for his company to make withdrawals that were not authorized from the account of at least one customer.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/cftc-cases-commodity-investor-fraud-case-results-4-5m-default-ruling-federal-court-orders-arizona-company-owner-pay-2-2m-anti-fraud-case\/#more-1906\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CFTC Secures $4.5M Default Ruling in Investor Fraud Case Against STA Opus The US Commodity Futures Trading Commission was able to get a default judgment that orders Gerard Suite and his STA Opus to pay over $1.1M in restitution and almost $3.4M in penalties for an alleged commodity pool fraud. Another defendant, Frank Collins, agreed [&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":[3810,3740],"tags":[2843],"class_list":["post-1906","post","type-post","status-publish","format-standard","hentry","category-cftc","category-miscellaneous","tag-commodity-pool-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Investor Fraud Case Results in $4.5M Ruling | Securities Fraud Attorney<\/title>\n<meta name=\"description\" content=\"The US Commodity Futures Trading Commission got a default judgment that orders STA Opus to pay over $4M in an alleged commodity investor fraud case.\" \/>\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\/cftc-cases-commodity-investor-fraud-case-results-4-5m-default-ruling-federal-court-orders-arizona-company-owner-pay-2-2m-anti-fraud-case\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Investor Fraud Case Results in $4.5M Ruling | Securities Fraud Attorney\" \/>\n<meta name=\"twitter:description\" content=\"The US Commodity Futures Trading Commission got a default judgment that orders STA Opus to pay over $4M in an alleged commodity investor fraud case.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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