The CFTC has authorized settlements with three of 4 International Buying and selling Membership scammers.
The International Buying and selling Membership settlements have been introduced to the court docket on July twenty seventh as consent orders.
On July twenty sixth the court docket authorized the settlement and formally signed off on the orders.
The consent orders determine the three settling defendants as
- Cesar Castaneda (aka Cesar Castaneda Garcia), a resident of Conroe, Texas;
- Joel Castaneda Garcia, a resident of Port St. Lucie, Florida; and
- Mayco Alexis Maldonado Garcia, a resident of Pearland, Texas.
For every of the defendants, the allegations introduced by the CFTC of their unique grievance are accepted as reality.
The consent orders enter everlasting injunctions towards Castaneda and the Garcias, prohibiting them from committing additional acts of fraud.
On the cash facet of issues;
- Mayco Garcia can pay again $989,550 in restitution, a $400,000 civil penalty plus post-judgment curiosity
- Cesar and Joel Garcia can pay again $989,550 in joint restitution, a $180,000 civil penalty every plus post-judgment curiosity
The consent order restitution penalties might be paid to the Nationwide Futures Affiliation who, as court-appointed Monitor, will oversee distribution to International Buying and selling Membership victims.
The fourth International Buying and selling Membership defendant is Rodrigo Jose Castro Molina, aka Rodrigo Castro, Jose Molina and Jose Castro, a resident of Texas.
No phrase on the standing of his case but so I’ll proceed to observe the case docket for updates.
Replace ninth September 2021 – The SEC has filed for default judgment towards Rodrigo Castro.
Pending approval of the movement, filed September seventh, I’ll have a separate article up masking particulars of the judgment.
Replace twenty second September 2021 – The CFTC has been awarded default judgment towards Rodrigo Castro.