CFTC Sues Fla. Firm Over $10M Precious Metals Finance Plot

Law360, New York (July 31, 2013, 6:12 PM EDT) -- The U.S. Commodity Futures Trading Commission launched a suit Monday in Florida federal court alleging purported precious metals wholesaler AmeriFirst Management LLC and its owners operated an illegal, off-exchange financing scheme for gold, silver and platinum transactions that defrauded customers of $9.7 million.

The CFTC alleges that Fort Lauderdale-based AML and its owners, John P. D’Onofrio, George E. Sarafianos and Scott D. Piccininni marketed illegal, off-exchange financed commodity transactions and fraudulently misrepresented the nature of those transactions to their retail customers from November 2011 to February...
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Case Title

U. S. Commodity Futures Trading Commission v. Amerifirst Management LLC et al


Case Number

0:13-cv-61637

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

William P. Dimitrouleas

Date Filed

July 29, 2013

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