Ex-Optionable CEO Hit With $1M Fine For CEA Violations

Law360, New York (May 31, 2013, 3:34 PM EDT) -- A federal judge on Tuesday hit former Optionable Inc. CEO Kevin Cassidy with a $1 million fine for allegedly conspiring with a Bank of Montreal trader to overstate the value of the bank’s natural gas options book in order to conceal millions in losses.

The U.S. Commodity Futures Trading Commission argued the fine was necessary because of the serious nature of Cassidy’s alleged violations of the Commodity Exchange Act and CFTC regulations and the need to deter such conduct by others in the future.

Cassidy argued...
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Case Information

Case Title

Commodity Futures Trading Commission v. Cassidy et al

Case Number



New York Southern

Nature of Suit



George B. Daniels

Date Filed

November 17, 2008


Government Agencies

UK Financial Services

UK Financial Services

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