CFTC Sues Ex-Chicago Broker For $7.8M Futures Ponzi Scheme

by The Compliance Exchange on May 25, 2012

The Commodity Futures Trading Commission (CFTC) has sued a former Chicago floor broker, claiming he ran a four-year Ponzi scheme and fraudulently solicited at least $7.8 million to trade commodity futures contracts. In a civil lawsuit, the CFTC said Bradley Schiller ran the Ponzi scheme promised investors annual returns of 13 percent or higher. But he never delivered, the suit charged. The lawsuit charged his scam fueled “a life of luxury” including a pricey high-rise condominium and expensive automobiles.

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