Washington, D.C. — The Commodity Futures Trading Commission today announced it filed a civil enforcement action in the U.S. District Court for the Eastern District of New York against Mark A. Ramkishun, a former resident of New York City. The complaint alleges that Ramkishun fraudulently induced individuals in the U.S. to participate in a purported commodity pool called Leo Growl LLC.
In its continuing litigation, the CFTC seeks full restitution to defrauded fund participants, disgorgement of any ill-gotten gains, civil monetary penalties, permanent trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act (CEA) and CFTC regulations, as charged.
Case Background
The complaint alleges that beginning in at least March 2019 and continuing through at least September 2021, Ramkishun, acted as an unregistered commodity pool operator to fraudulently solicit and receive funds from more than 30 pool participants for the purpose of trading, among other things, commodity futures and options contracts in the pool. The complaint further alleges that both in the course of soliciting as well as after receiving pool participant funds, Ramkishun knowingly made fraudulent and material misrepresentations and/or omitted material facts about the use of pool participant funds and the profits purportedly earned from Ramkishun’s trading. Furthermore, rather than use all of the pool participant funds to trade in the pool as he had promised,...
Park Filed Complaint Against President Lee Ahead of 2021 Election Jang Youngha Sentenced to One Year in Prison, Two Years Probation Confirmed The police have launched an investigation into Park Chu...