Jailed Commodity Trader To Hand CFTC Over $30M

Law360, New York (April 9, 2010, 4:09 PM EDT) -- A commodity trading adviser in Florida has agreed to pay $25.5 million in restitution, along with a $6.8 million penalty and post-judgment interest, to resolve a lawsuit accusing him of misappropriating investor funds to support his luxurious lifestyle.

Michael A. Meisner, who was recently sentenced to nearly 16 years behind bars in a corresponding criminal matter, and the U.S. Commodity Futures Trading Commission, which brought the civil case, filed a joint motion Thursday requesting that the U.S. District Court for the Southern District of Florida approve...
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