Capital Blu Execs To Pay $17.5M For Investment Fraud

Law360, New York (June 10, 2011, 4:51 PM EDT) -- A federal judge in Florida on Friday hit the three principals of defunct commodities trading adviser Capital Blu Management LLC with $17.5 million in fines and restitution for swindling investors in a fraudulent commodity pool.

Following a February jury verdict, U.S. District Judge John Antoon II ordered Donovan Davis Jr., Blayne Davis and Damien Bromfield to pay roughly $5 million each in penalties and together fork over about $2.5 million in restitution to victims of the fraud. The court also imposed a permanent injunction barring the...
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Case Information

Case Title

U.S. Commodity Futures Trading Commission v. Capital Blu Management, LLC et al


Case Number

6:09-cv-00508

Court

Florida Middle

Nature of Suit

Securities/Commodities

Judge

John Antoon II

Date Filed

March 23, 2009

Government Agencies

UK Financial Services

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