Brokerage Firm Ran $4.4M Options Fraud Scheme, CFTC Says

Law360 (June 29, 2020, 10:44 PM EDT) -- The Commodity Futures Trading Commission sued a Chicago-based brokerage firm and four executives and associates in Illinois federal court Monday, accusing the group of defrauding customers out of $4.4 million through a scheme involving options on futures transactions.

The CFTC said that Long Leaf Trading Group Inc., its principals James A. Donelson and Timothy M. Evans, and former associates Jeremy S. Ruth and Andrew D. Nelson misled prospective customers about the success of the firm's "Time Means Money" options trading program, causing 400 people to lose more than $6.1 million, of which the defendants collected more than 70%.

"The CFTC is...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!