October 20, 2015
The Michigan-based operator of commodity pool Cash Flow Financial LLC has been ordered to pay $64.2 million in restitution and fines for his role in running the investment club as a Ponzi scheme, the U.S. Commodity Futures Trading Commission announced Tuesday.
September 22, 2011
The operator of a Michigan-based investment club admitted Thursday in Virginia federal court to charges of defrauding participants of $40 million by putting their funds in high-risk ventures without their knowledge.