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God, how I hate these guys.
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Thread: God, how I hate these guys.

  1. #1
    Join Date
    Dec 2009
    Location
    Chicago
    Posts
    4,376

    Default God, how I hate these guys.

    They are even worse than the metals guys who sell subscriptions to one-way advice.

    June 14, 2012
    Federal Court in Illinois Orders Defendants Richard C. Regan and Pro Trading Course, LLC to Pay More than $600,000 in Restitution and Civil Monetary Penalties to Settle CFTC Anti-Fraud Action

    Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge James B. Zagel, of the U.S. District Court for the Northern District of Illinois, entered an order of default judgment and permanent injunction against defendants Richard C. Regan (Regan) and Pro Trading Course, LLC (PTC), both of La Jolla, Calif.
    The court’s order stems from a CFTC enforcement action filed on December 7, 2011, that charged the defendants with fraudulently soliciting members of the public to enroll in a commodity futures training program (see CFTC Press Release 6155-11).
    The order, entered on May 29, 2012, requires the defendants jointly and severally to pay a $461,100 civil monetary penalty and restitution of $232,200. The order also imposes permanent trading and registration bans against the defendants and prohibits them from violating the Commodity Exchange Act and CFTC regulations, as charged.
    The order finds that PTC, through Regan and its employees, used false and misleading promotional material and sales solicitations, which overstated the advancement opportunity and profit potential of PTC’s commodity futures training program. The defendants also failed to disclose that not one of the 126 clients who completed PTC’s training and became PTC proprietary traders ever advanced beyond Level 1 of the program, according to the order. In addition, no PTC trader ever met the monthly profit targets set by Regan or received profit “payouts” approximating those depicted on the “Payout Charts” Regan prepared, the order finds.
    The order further finds that PTC, through Regan and its sales associates, used false and misleading promotional material and sales solicitations to sell access to PTC’s Virtual Trading Room (VTR). This created the impression that VTR sessions involved actual commodity futures trading, but they failed to disclose that Regan and his team placed only simulated trades while conducting VTR sessions.
    The CFTC appreciates the assistance of the National Futures Association.
    CFTC Division of Enforcement staff members responsible for this case are Diane M. Romaniuk, Lindsey Evans, Ava M. Gould, Mary Elizabeth Spear, Scott R. Williamson, Rosemary Hollinger, and Richard B. Wagner.
    Media Contacts
    Dennis Holden
    202-418-5088

  2. #2
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,579

    Default your paper silver is hated by more

    Kabbal Dumps 9,000 Paper Silver Contracts in 10 Minutes During AM Futures Raid



    We recently posted regarding this morning’s water-fall raid in silver at 9:30am EST that drove silver .80 lower in minutes.
    SPOT volume data indicates 9,157 contracts were dumped on the market in a span of 10 minutes- 45.8 million paper ounces of silver.
    Take a moment to put this latest paper futures silver raid in perspective:

    THIS IS LARGER THAN THE ENTIRE US MINT SILVER EAGLE SALES FOR 2011 AT 40 MILLION OUNCES!

    Between 9:30 and 9:35 AM 4,892 contracts were dumped on the market, and between 9:35 and 9:40 another 4,265 contracts were dumped indiscriminately, for a total of 9,157 contracts in a 10 minute span ON NO MARKET MOVING NEWS!!!

    Prior to the raid volume had been averaging 500-700 contracts/ 5 minute period throughout the morning.


    Pirates, yes they rob i...

    (the site url above was changed by the forum software)
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  3. #3
    Join Date
    Dec 2009
    Location
    Chicago
    Posts
    4,376

    Default

    There are always going to be small players who cry in their soup when big traders move the market. If you can't stand the heat, get out of the kitchen.

  4. #4
    Join Date
    Apr 2009
    Posts
    233

    Default Let the strong prevail

    Quote Originally Posted by Matthew Shelley View Post
    There are always going to be small players who cry in their soup when big traders move the market. If you can't stand the heat, get out of the kitchen.
    You explicitly make the case for letting the small beware, and the big prevail. Civilized society is based on the premise that government/regulation prevents this happening. Just don't "cry in your soup" when you are dragged from your car and beaten up by a gang of big and bad guys. Because that is where you are going with this. You can't legally dump 9k contracts on the Comex in ten minutes and claim that you are a "hedger". You are not allowed legally to "move markets". So this appears to be criminal activity. Once you are OK with criminality, you have stepped on the slippery slope which leads eventually to the breakdown of society.

  5. #5
    Join Date
    Apr 2009
    Location
    Raleigh NC.
    Posts
    1,385

    Default

    Bravo...well said!
    - God's Walky Talky

    "L A N . . A S T A S L E M"
    I will NOT submit to islam!

    "All that is necessary for the triumph of evil is that good men do nothing"
    Edmund Burke 1729-1797

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