La Commodity Futures Trading Commission a publié un communiqué de presse dans lequel elle annonce la condamnation de Global Precious Metals Trading et de son propriétaire, Michael Ghaemi, pour fraude sur le marché des métaux précieux.
Selon la plainte déposée par la CFTC, les défendeurs auraient sollicité et accepté plus de 800 000 dollars provenant de 9 clients américains dans le cadre de transactions illégales de marchandises au détail hors bourse et aurait détournés la quasi-totalité des fonds des clients.
Au lieu d'acheter, de stocker ou de financer l'achat de métaux physiques, les défendeurs auraient détourné les fonds des clients et les auraient utilisés pour acheter des voitures, faire des voyages et se rémunérer.
The U.S. Commodity Futures Trading Commission (CFTC) today filed a civil injunctive enforcement action in the U.S. District Court for the Southern District of Florida against Defendants Global Precious Metals Trading Company, LLC (GPMT) of Coral Gables, Florida, and its owner Michael Ghaemi, who resides in Miami, Florida. The CFTC’s Complaint charges that, since July 2011, the Defendants solicited and accepted more than $800,000 from approximately nine U.S. customers in connection with illegal off-exchange retail commodity transactions and then misappropriated virtually all of the customers’ funds.
According to the CFTC Complaint, the Defendants claimed to purchase and store physical metal, including gold, silver, platinum, and palladium, for customers. Defendants told customers that the minimum investment to purchase physical metal was $25,000, and that the customers would finance the remaining amount of the total value of the physical metals purchased through a loan which GPMT would arrange.
These claims were false, according to the Complaint. Instead of purchasing, storing, or financing the purchase of physical metals, the Defendants misappropriated the customers’ funds and used the funds for Ghaemi’s benefit, including to make car payments, pay Ghaemi’s salary, pay for Ghaemi’s travel and entertainment expenses, and to margin their own speculative metals trading account in London. According to the Complaint, the Defendants have returned less than $65,000 of the over $800,000 obtained from customers and misappropriated the remaining funds.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of 2010, which expanded the CFTC’s jurisdiction over retail commodity transactions like these, prohibits fraud in connection with such transactions, and requires that these transactions be executed on or subject to the rules of a board of trade, exchange, or contract market, according to the Complaint.
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