Law360 (March 21, 2011, 1:29 PM EDT) -- The imprisoned manager of an Oklahoma commodity pool that turned out to be a $34 million Ponzi scheme agreed Friday to pay nearly $16.3 million in combined penalties to federal regulators.
According to a consent decree filed in the U.S. District Court for the Western District of Oklahoma by Mark S. Trimble, the managing member of Oklahoma City-based Phidippides Capital Management LLC, and the U.S. Commodity Futures Trading Commission, Trimble agreed to pay just more than $9 million in restitution and a nearly $7.3 million civil penalty.
Trimble also agreed to a permanent injunction barring him from commodities and futures trading,...
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