La Commodity Futures Trading Commission a publié un communiqué de presse dans lequel elle met en cause la gestion de IAG Multi Strategy Fund LP pour détournement de fonds et fausse déclaration.
The U.S. Commodity Futures Trading Commission (CFTC) today filed and simultaneously settled charges that IAG Capital Management, LLC (IAG) and William Patrick Kelly of Weston, Conn., who operated a $6 million commodity pool called the IAG Multi Strategy Fund LP, wrongfully used more than $320,000 of pool participants’ funds for Kelly’s personal use, made false statements to the National Futures Association (NFA), and commingled pool participants’ funds with their own funds.
The CFTC order requires IAG and Kelly jointly and severally to pay a $280,000 civil monetary penalty. The order also imposes permanent trading and registration bans against IAG and Kelly.
According to the order, from January 2008 to July 2010, IAG and Kelly solicited and obtained almost $6 million from approximately 80 members of the general public to trade commodity futures contracts, among other contracts, on behalf of the IAG Multi Strategy Fund pool. The order finds that from October to December 2009 and again in January 2010, IAG and Kelly engaged in a series of unauthorized money transfers from the pool’s accounts to IAG’s and Kelly’s accounts, whereby IAG and Kelly wrongfully used more than $320,000 of the pool participants’ funds for Kelly’s personal use. IAG and Kelly returned those funds to the pool’s accounts but did not disclose to pool participants their unauthorized withdrawals of funds from the pool, according to the order. Moreover, IAG and Kelly commingled pool participants’ funds with their own funds, the order finds.
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