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U.S. Commodity Futures Trading Commission v. Southern Trust Metals, Inc. et al

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Case Number:

1:14-cv-22739

Court:

Florida Southern

Nature of Suit:

Securities/Commodities

Judge:

James Lawrence King

Firms

Government Agencies

  1. September 05, 2017

    Metals Dealers CEO Must Face Contempt Bid Over Restitution

    A Florida federal judge said the CEO of two metals dealers will have to show why he shouldn't be held in contempt of court for failing to pay $2.1 million in restitution, agreeing with a federal magistrate's conclusions that two recent U.S. Supreme Court decisions don't prevent the court from using its contempt powers to enforce the award.

  2. May 16, 2017

    Metals Dealers CEO Loses Bid To Have CFTC Sanctioned

    A Florida federal judge won't sanction the U.S. Commodity Futures Trading Commission over its bid to hold the CEO of two metals dealers in contempt for not paying a nearly $2.5 million judgment against him, ruling on Monday that the agency's attempt to enforce the judgment was flawed but nevertheless reasonable.

  3. May 05, 2017

    CFTC Pushes Back At Metals Dealers CEO's Sanctions Bid

    The U.S. Commodity Futures Trading Commission shot back Thursday at a sanction bid in Florida federal court by the CEO of two metals dealers regarding a contempt motion filed by the agency after he failed to pay $2.4 million for illegal off-market trades, calling the sanctions bid frivolous.

  4. April 21, 2017

    CFTC's 'Hail Mary' Contempt Bid Warrants Sanction, CEO Says

    The CEO of two metals dealers that were ordered to pay $2.4 million for illegal, off-market trades asked a Florida federal court Thursday to sanction the U.S. Commodity Futures Trading Commission, saying the agency filed a "Hail Mary" contempt motion in an "ongoing campaign to harass" him.

  5. August 29, 2016

    Metals Traders Cheated Investors, Judge Rules In CFTC Suit

    The U.S. Commodity Futures Trading Commission won the remaining claims in its fraud suit against a pair of companies and their CEO whom it accused of fleecing investors by claiming to deal in precious metals when in fact they dealt in derivatives contracts, landing a trading injunction and $2.1 million in restitution.

  6. May 25, 2016

    Traders Lose Bid To Alter Judgment In CFTC Metals Case

    A Florida federal judge refused Wednesday to alter his decision handing the U.S. Commodity Futures Trading Commission a partial win in a suit alleging a pair of companies made illegal off-exchange deals and failed to register as futures commodity merchants.

  7. May 24, 2016

    CFTC Blasts 'Absurd' Bid By Traders To Alter Judgment

    The U.S. Commodity Futures Trading Commission on Monday called "absurd" a request from a pair of companies trading in precious metals for a judge to alter his decision handing the agency a partial win in a suit alleging the firms made illegal off-exchange deals and failed to register as futures commodity merchants.

  8. April 07, 2016

    CFTC Notches Partial Victory Against Precious Metal Traders

    A Florida federal judge handed a partial victory to the U.S. Commodity Futures Trading Commission on Thursday when he ruled that a pair of companies trading in precious metals had participated in illegal off-exchange deals and failed to register as futures commodity merchants as required by the Commodities Exchange Act.

  9. January 28, 2016

    CFTC Pushes Back Against Metal Dealers' Sanctions Bid

    The U.S. Commodity Futures Trading Commission told a Florida federal court on Wednesday that metal dealers accused of making $2.6 million from illegal, off-market trades are trying to capitalize on a clerical error with a bid for sanctions against the regulator.

  10. January 13, 2016

    Metals Dealers Want CFTC Sanctioned For 'Misleading' Court

    Metals dealers accused by regulators of making $2.6 million from illegal, off-market trades urged a Florida federal court Wednesday to sanction the U.S. Commodity Futures Trading Commission, claiming the agency posted a "highly misleading" notice regarding a pending discovery motion that the court already denied in a pretrial conference.