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Federal Court Orders Florida Man to Pay Over $1 Million in Penalties for Fraudulent Solicitation and Misappropriation in a Commodity Pool Scheme
The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of Florida entered an order of final judgment against Rico Cox of Fort Lauderdale, Florida. The order resolves the CFTC’s May 31, 2022 lawsuit against Cox and finds him liable for fraudulently soliciting investments in commodity futures and misappropriating at least 14 pool participants’ funds. The court’s order of default judgment and permanent injunction permanently enjoins Cox from engaging in conduct that violates the Commodity Exchange Act (CEA), orders him to pay $710,667 in restitution, $339,300 in ... (full story)