{"id":6820,"date":"2019-02-13T16:30:30","date_gmt":"2019-02-13T22:30:30","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6820"},"modified":"2019-02-13T16:30:30","modified_gmt":"2019-02-13T22:30:30","slug":"commodity-futures-trading-commission-orders-couple-who-pleaded-guilty-in-11m-futures-trading-scam-to-pay-restitution","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/commodity-futures-trading-commission-orders-couple-who-pleaded-guilty-in-11m-futures-trading-scam-to-pay-restitution\/","title":{"rendered":"Commodity Futures Trading Commission Orders Couple Who Pleaded Guilty in $11M Futures Trading Scam to Pay Restitution"},"content":{"rendered":"<p>\t\t\t\tThe <a href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/7868-19\" target=\"_blank\" rel=\"noopener noreferrer\">CFTC <\/a>is ordering Lawrence\/Laurence Hong, his wife Grace Hong, and their Pishon Holding LLC to pay over $1.25M in restitution for the misappropriation and fraudulent solicitation of futures contracts. The couple already pleaded guilty to related criminal charges last year, with Laurence sentenced to 180 months in prison and Grace to 72 months behind bars.<\/p>\n<p>According to the CFTC\u2019s <a href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/pr7569-17\" target=\"_blank\" rel=\"noopener noreferrer\">complaint<\/a>, which it brought against the couple in 2017, the Hongs defrauded investors of more than $11M. They allegedly did this by fraudulently soliciting people at a church gathering, through a YouTube video, and via misrepresentations that a Pastor made about Laurence\u2019s supposed record as a successful trader and how much money he oversaw. The couple is accused of giving these misrepresentations to the Pastor before the church gathering.<\/p>\n<p><strong>The self-regulatory authority (SRO) also accused the Hongs of making false statements in solicitation materials, including that:<\/strong><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/commodity-futures-trading-commission-orders-couple-who-pleaded-guilty-in-11m-futures-trading-scam-to-pay-restitution\/\"  title=\"Continue Reading Commodity Futures Trading Commission Orders Couple Who Pleaded Guilty in $11M Futures Trading Scam to Pay Restitution\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The CFTC is ordering Lawrence\/Laurence Hong, his wife Grace Hong, and their Pishon Holding LLC to pay over $1.25M in restitution for the misappropriation and fraudulent solicitation of futures contracts. The couple already pleaded guilty to related criminal charges last year, with Laurence sentenced to 180 months in prison and Grace to 72 months behind [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6663,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3810,3738,3750],"tags":[3283,3284,3285],"class_list":["post-6820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cftc","category-investor-fraud","category-texas-securities-fraud","tag-grace-hong","tag-laurence-hong","tag-pishon-holding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CFTC Order Couple To Pay Restitution In $11M Tradings Scam &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"The CFTC is ordering a couple to pay over $1.25M in restitution for the misappropriation and fraudulent solicitation of futures contracts.\" \/>\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\/commodity-futures-trading-commission-orders-couple-who-pleaded-guilty-in-11m-futures-trading-scam-to-pay-restitution\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CFTC Order Couple To Pay Restitution In $11M Tradings Scam &#8212; 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