We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

11th Circ. Urged To Rethink CFTC Award In Metals Fraud

Law360 (March 8, 2018, 6:26 PM EST) -- Two Florida-based precious metals trading companies and their CEO want rehearing of their appeal of a judgment for the U.S. Commodity Futures Trading Commission, saying an Eleventh Circuit panel upheld $1.5 million of the original $2.1 million damages award based on a mischaracterization of the transactions.

“The court's opinion makes a crucial factual error that utterly changes the proximate cause analysis on the leveraged metals transactions,” defendants Southern Trust Metals Inc., Loreley Overseas Corp. and CEO Robert Escobio said in a petition for panel rehearing filed...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

U.S. Commodity Futures Trading v. Robert Escobio, et al


Case Number

16-16544

Court

Appellate - 11th Circuit

Nature of Suit

1850 Securities, Commodities, Exchange

Date Filed

October 12, 2016

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.