Oil Trader Ordered To Pay $2.6M For Scamming Clients

Law360, Houston (December 10, 2012, 7:33 PM EST) -- A Texas federal judge hit a Houston-based trader of oil futures contracts with a $2.6 million judgment after finding he lied to clients about investment returns and used their money to cover personal expenses, the U.S. Commodity Futures Trading Commission announced Monday.

U.S. District Judge Keith P. Ellison entered a default judgment against Christopher D. Daley and his company TC Credit Service LLC, also known as Del-Mair Group LLC, ordering Daley to pay $654,183 in restitution to defrauded investors and a civil monetary penalty of $1,995,000....
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

U.S. Commodity Futures Trading Commission v. Christopher D. Daley, et al


Case Number

4:12-cv-01834

Court

Texas Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Keith P Ellison

Date Filed

June 19, 2012

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.