Commodity Trading Manager Fined $5M Over Investment Scam

Law360, New York (April 3, 2013, 6:50 PM EDT) -- Summit Trading & Capital LLC and its manager Brant Rushton were hit with a nearly $5 million restitution and penalty order Wednesday by an Illinois federal court that had ruled for commodity regulators accusing them of a $2 million commodity pool investment scam.

U.S. District Judge James E. Shadid, who in February granted summary judgment to the U.S. Commodity Futures Trading Commission on its claims against Summit and Brant, on Wednesday ordered them to pay some $1.6 million in restitution and $3.2 million in civil penalties,...
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