CFTC Seeks $7.1M In Fines Over Alleged Fraudster's Absence

Law360, New York (September 24, 2012, 10:48 PM EDT) -- The U.S. Commodity Futures Trading Commission asked a Florida federal judge Monday to impose penalties of more than $7.1 million against a trader who failed to appear in response to the agency's allegations of fraud and misappropriation of client funds.

The CFTC claims Jose S. Rubio and his company Rubio Wealth Management fraudulently solicited and received more than $1.8 million from 21 clients, who eventually received just under $80,000 as a return on their investments after the remainder of the funds were either lost on trades...
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Case Information

Case Title

U.S. Commodity Futures Trading Commission v. Rubio et al


Case Number

1:12-cv-22129

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Robin S. Rosenbaum

Date Filed

June 7, 2012

Government Agencies

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