Ex-Crown Forex Principal Loses Bid To Ditch CFTC Suit

Law360, New York (April 11, 2011, 6:00 PM EDT) -- A Minnesota federal judge on Monday shut down a former Crown Forex SA principal's bid to toss the U.S. Commodity Futures Trading Commission's suit accusing him of taking part in a scheme that bilked investors out of $84 million.

Judge Michael J. Davis denied Patrick Kiley's motion to dismiss the suit against him in the U.S. District Court for the District of Minnesota, adopting Magistrate Judge Franklin L. Noel's March 10 report and recommendation finding that the CFTC does have authority over Kiley's alleged misconduct and...
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