CFTC Sues Investment Manager Over $350M Trades Scheme

Law360, Los Angeles (November 6, 2013, 4:59 PM EST) -- The U.S. Commodities and Futures Trading Commission accused a Chicago-based investment manager of violating the Commodities Exchange Act by placing artificially high bids on a certain type of contract to boost the firm’s return on a $350 million bet, according to a complaint filed in New York federal court Wednesday.

Investor Donald R. Wilson and his firm, DRW Investments LLC, had invested heavily in the three-month interest rate swap futures contract run by the International Derivatives Clearinghouse and didn’t want to lose, the CFTC alleged in...
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