RQN attorney, Mark Pugsley, successfully represented a client in an $11 million CFTC whistleblower case. In Commodity Future Trading Commission v. Tallinex, Ltd, et al., the defendants were ordered to pay nearly $10.3 million in restitution to defrauded U.S. customers and a civil penalty of $760,000.
The Order also permanently prohibits Tallinex and General Trader Fulfillment (GTF), a Nevada company operating out of Pleasant Grove, Utah, from violating the Commodity Exchange Act. The Order also found that Tallinex falsely represented that it was lawfully doing business in the United States, and was making false and misleading representations to customers regarding their funds. Mr. Pugsley’s client played an important role in bringing to light these fraudulent and illegal activities resulting in a significant whistleblower award from the CFTC.
Read the full CFTC press release.