June 5, 2014

CFTC-whistleblower-lawyerThe U.S. Commodity Futures Trading Commission (CFTC) recently published deadlines for whistleblowers to file claims for compensation. If you provided a tip or information to the CFTC that helped the agency prosecute any of the following defendants, please contact the team of whistleblower attorneys with The Cochran Firm, D.C.:

  • Highland Stone Capital Management, L.L.C., Forex Capital Trading Group, Inc., Forex Capital Trading Partners, Inc., Joseph Burgos, Susan G. Davis, and David E. Howard II
  • Hunter Wise Commodities, LLC, John King and Newbridge Alliance, Inc., David A. Moore, United States Capital Trust, LLC
  • Complete Developments, LLC, Patrick Cole, Global Strategic Marketing, Inc., Kevin Harris, Keelan Harris, Karen Starr, Investment International Inc.

If you informed the CFTC about any of the above-named defendants or companies and provided information about fraudulent or otherwise illegal behavior, our whistleblower attorneys can help you file a successful award claim. Because there are a wide variety of procedural and legal pitfalls associated with this process, it is prudent to retain counsel in order to maximize your chance of an award. Under the CTC whistleblower program, whistleblowers who file claims may be eligible for a financial award ranging from 10% to 30% of the CFTC’s ultimate recovery.

In order to maintain eligibility for financial compensation as a whistleblower, the CFTC must receive an award claim by August 30, 2014. Please contact our whistleblower team well in advance of this deadline.

In the Highland Stone Capital Management, et al. case, the defendants were ordered to pay more than $1.8 million as penalty for engaging in an off-exchange foreign currency trading fraud. Individuals in the case were also ordered to pay almost $907,600 as a penalty and restitution for the benefit of customers they defrauded.

In the Hunter Wise Commodities, et al. case, the defendants were awarded to pay more than $3.3 million in penalties and restitution to settle charges of orchestrating a fraudulent multi-million dollar precious metals trading scheme. Under this scheme, the defendants represented that customers could buy precious metals for a minimal initial payment and finance the remaining purchase with a loan. They represented that metals were stored in banks and depositories, but they did not actually own title to any precious metals.

In the Complete Developments, LLC, et al. case, the defendants were ordered to pay more than $2.2 million in sanctions for running a currency Ponzi scheme. This scam involved marketing a fraudulent forex investment program. The marketing language included various false and misleading claims about guaranteed return of a customer’s principal investment, low risk of loss, and inflated claims of the investment team’s experience. An earlier court order required Complete Developments, LLC and its principals and controlling persons Kevin Harris, Keelan Harris, and Karen Starr, and Investment International Inc. to pay more than $23 million in penalties and restitution.

Because time deadlines apply to filing a whistleblower claim and because recent decisions indicate courts interpret these deadlines strictly, we recommend contacting us as soon as possible if you provided information to the CFTC regarding any of the cases mentioned above.