Sun Platinum pays $40 million penalty
The Commodity Futures Trading Commission (CFTC) had charged the firm in September with fraud for misappropriating customer funds.
The CFTC said that between February 2003 and September 2003 the firm defrauded more than 400 customers by misappropriating more than $16 million from them, purportedly to speculate in foreign exchange on their behalf.
Instead, said the CFTC, over $4 million was transferred to offshore bank accounts. "No funds were transferred back into the Sun Platinum operating
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