CFTC Obtains Another Guilty Plea of Market Manipulation, Makes Criminal Referral
Levi McAllister, Patrick R. Pennella, 31 March 2021
The Commodity Futures Trading Commission (CFTC) announced last week that it has obtained another admission from a trader of violations of the Commodity Exchange Act and CFTC regulations, demonstrating its continued aggressive enforcement of its market anti-manipulation provisions.
Emilio José Heredia Collado (Heredia) of Lafayette, California, admitted to engaging in the manipulation of a US price-assessment benchmark relating to physical fuel oil products for more than four years while employed as a fuel oil trader for a trading company. The CFTC imposed a permanent ban from trading commodity interests or engaging in other related activities and a $100,000 civil monetary penalty and made a criminal referral to the US Department of Justice. Continue reading “Article: CFTC Obtains Another Guilty Plea of Market Manipulation, Makes Criminal Referral”
