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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...
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Case Information

Case Title

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

Case Number



Appellate - 11th Circuit

Nature of Suit

1850 Securities, Commodities, Exchange

Date Filed

October 12, 2016

Law Firms

Government Agencies

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