Trader To Pay $280M To Investors In CFTC Deal

Law360, New York (August 19, 2008, 12:00 AM EDT) -- A commodities trader and the asset management company he headed have been ordered to pay fines of more than $20 million and return almost $280 million to investors as part of a settlement with the U.S. Commodity Futures Trading Commission.

The supplemental consent order was entered Wednesday by Judge Michael Baylson of the U.S. District Court for the Eastern District of Pennsylvania, who also imposed a lifetime trading ban on Paul Eustace and his company, Philadelphia Alternative Asset Management Co.

The CFTC, which filed a civil...
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