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 Information

Case Title

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

Case Number



Florida Southern

Nature of Suit



William P. Dimitrouleas

Date Filed

July 29, 2013

Government Agencies

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