Archive: September 19, 2005

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Court Orders Production of Home Office Backup Tape Created in Connection with CFTC Receivership

Court Orders Production of Home Office Backup Tape Created in Connection with CFTC Receivership

Commodity Futures Trading Commission v. Equity Financial Group, LLC, et al., 2005 WL 2205789 (D.N.J. Sept. 9, 2005)

In April 2004, the U.S. Commodity Futures Trading Commission (“CFTC”) filed an enforcement action against Equity Financial Group, LLC (“Equity”) and others alleging fraud in connection with the solicitation of commodity pool participation interests in Shasta Capital Associates, LLC (“Shasta”). Tech Traders, Inc. (“Tech Traders”), which traded Shasta’s funds, and Robert W. Shimer, counsel for Equity and Shasta, were charged with regulatory violations. Tech Traders allegedly traded Shasta funds in its own name and lost money for this hedge fund rather than making the “astonishing returns” claimed by Equity. Read More

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