CFTC Charges Calif. Commodity Pools With Skimming Funds

Law360, New York (September 30, 2013, 2:54 PM EDT) -- The U.S. Commodity Futures Trading Commission on Monday said it is suing in New Jersey district court two California investment firms for wrongly skimming funds from two commodity pools they operated from 2007 through 2010.

The suit, filed in New Jersey federal court, alleges Tote Fund LLC and MJS Capital Management LLC and their principal Michael J. Siegel misappropriated $191,689 from the Monarch Futures Fund LLC and the QEP Futures Fund LLC by taking money from the pools for nonpool expenses and charging unjustified fees....
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Case Information

Case Title

U.S. COMMODITY FUTURES TRADING COMMISSION v. SIEGEL et al


Case Number

1:13-cv-05755

Court

New Jersey

Nature of Suit

Securities/Commodities

Judge

Noel L. Hillman

Date Filed

September 27, 2013

Government Agencies

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