CFTC Seeks $16M Restitution In LaSalle Fraud Case

Law360, New York (February 10, 2010, 5:43 PM EST) -- The U.S. Commodity Futures Trading Commission has asked for restitution from LaSalle International Clearing Corp., based on the $16.6 million amount calculated in a parallel criminal action against LaSalle principal Michael J. Riolo.

The CFTC filed its motion for a supplemental order in the U.S. District Court for the Southern District of Florida on Tuesday.

In May the CFTC accused LaSalle of soliciting funds from customers to be used in foreign currency exchange contracts, and overstating the amount of money in customers' accounts by as much...
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