(HedgeCo.Net) The Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Jonathan Hansen (Hansen) of Dana Point, California, and his Newport Beach, California, based company, Newport Private Capital LLC, (NPC), for engaging in a fraudulent post-execution allocation scheme, sometimes referred to as “cherry-picking”. The Order also finds that NPC and Hansen failed to keep required records. During the period of the fraudulent activity, NPC was registered as a Commodity Pool Operator and Commodity Trading Advisor, and Hansen was registered as an Associated Person and listed as Principal of NPC.
CFTC Orders Commodity Trading Firm and Principal to Pay a $315,000 Civil Monetary Penalty for “Cherry-Picking” Scheme
This entry was posted in HedgeCo Networks Press Releases, HedgeCo News, HedgeCoVest News, Insider Trading. Bookmark the permalink.
