CFTC Sues Pool Operator For Cheating Investors

Law360, New York (November 23, 2009, 1:10 PM EST) -- The U.S. Commodity Futures Trading Commission wants an injunction against a Louisiana commodity pool operator accused of defrauding elderly investors out of more than $2 million.

In a complaint filed to the U.S. District Court for the Eastern District of Louisiana on Friday, the CFTC claims Capital Funding Consultants LLC, its owner Matthew Pizzolato and managing member William Guidry used participants' funds to trade in commodity futures while purporting to invest in safe, secure investments with guaranteed rates of return.

“Pizzolato did not disclose this futures...
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