CFTC Orders Fla. Trader To Pay Back $1M From Scam

Law360 (February 13, 2020, 5:12 PM EST) -- The U.S. Commodity Futures Trading Commission ordered a Florida man Thursday to pay more than $1 million he solicited from family members and acquaintances for commodities trading, which in reality he barely traded with and used some on himself.

The CFTC said that from 2014 to 2018, Cocoa Beach, Florida, resident Matthew R. White and his company, M.W. Global Futures LLC, solicited about $1.2 million for a pooled investment vehicle to trade on commodity futures contracts. However, he spent about $280,000 of the money on himself for rent, credit cards and car loans, and deposited only about $200,000 in two separate...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!