CFTC Sanctions Ex-Compliance Chief For Lying To Regulator

Law360 (September 12, 2019, 8:48 PM EDT) -- A former chief compliance officer for a commodity pool was ordered to pay $150,000 by the U.S. Commodity Futures Trading Commission on Thursday for allegedly participating in a fraudulent trading scheme and lying to the National Futures Association when it investigated his firm.

The CFTC said that between January and November 2018, Rafael Marconato was involved in fraud perpetrated by Fabio Bretas de Freitas, CEO of Phy Capital Investments LLC, who was charged with fraud and misappropriation earlier this year in federal court. In anticipation of an administrative proceeding, Marconato agreed to pay $125,000 in restitution and a $25,000 civil penalty...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS