{"id":10915,"date":"2023-01-03T13:08:44","date_gmt":"2023-01-03T18:08:44","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10915"},"modified":"2023-01-03T13:08:44","modified_gmt":"2023-01-03T18:08:44","slug":"cftc-sanctions-monex-a-leveraged-precious-metals-company","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/cftc-sanctions-monex-a-leveraged-precious-metals-company\/","title":{"rendered":"CFTC Sanctions Monex \u2013 A Leveraged Precious Metals Company"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10205 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall.jpg\" alt=\"In a recent press release, the Commodities Futures Trading Division (CFTC) has announced that a Federal Court has ordered a California-based precious metals trading firm to return more than $38 million in fraudulently obtained funds to their company\u2019s customers, and sanctioned it for fraud and violations.  The CFTC has entered consent order for permanent injunction, monetary sanctions, and equitable relief against\u00a0five defendants:  Monex Deposit Company\u00a0 Monex Credit Company\u00a0 Newport Services Corporation Owner\u00a0Louis Carabini\u00a0 Owner Michael Carabini, son of owner Louis Carabini  According to the CFTC allegations, from July 16, 2011, through August 31, 2021, Louis and Michael Carabini operated their own over-the-counter retail trading platform under the three companies collectively called \u201cMonex Entity Defendants.\u201d Their trading platform, known as \u201cAtlas,\u201d in which customers could speculate on the prices of precious metals. Atlas was not a regulated exchange as they claimed, and Monex was involved in nearly every transaction.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>In a recent press release, the Commodities Futures Trading Division (CFTC) has announced that a Federal Court has ordered a California-based precious metals trading firm to return more than $38 million in fraudulently obtained funds to their company\u2019s customers, and sanctioned it for fraud and violations. <a href=\"https:\/\/www.silverlaw.com\/blog\/cftc-sanctions-monex-a-leveraged-precious-metals-company\/#more-10915\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent press release, the Commodities Futures Trading Division (CFTC) has announced that a Federal Court has ordered a California-based precious metals trading firm to return more than $38 million in fraudulently obtained funds to their company\u2019s customers, and sanctioned it for fraud and violations. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[663],"tags":[],"class_list":["post-10915","post","type-post","status-publish","format-standard","hentry","category-precious-metals"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CFTC Sanctions Monex \u2013 A Leveraged Precious Metals Company<\/title>\n<meta name=\"description\" content=\"The CFTC announced that precious metals firm Monex was ordered to return more than $38 million in fraudulently obtained funds to customers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/cftc-sanctions-monex-a-leveraged-precious-metals-company\/\" 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minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/cftc-sanctions-monex-a-leveraged-precious-metals-company\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/cftc-sanctions-monex-a-leveraged-precious-metals-company\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"CFTC Sanctions Monex \u2013 A Leveraged Precious Metals Company","datePublished":"2023-01-03T18:08:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/cftc-sanctions-monex-a-leveraged-precious-metals-company\/"},"wordCount":823,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/cftc-sanctions-monex-a-leveraged-precious-metals-company\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall.jpg","articleSection":["Precious 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