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The U.S. Commodity Futures Trading Commission said Monday it has settled fraud and unauthorized trading charges against a Naperville floor trader at the Chicago Board of Trade whose activities generated a $4 million loss.
The CFTC order permanently bans John Lee Neuman from trading. He had registered with the CFTC as a floor broker from May 1993 until February 2008, and became a local in the CBOT corn options pit in September 1997. Get the full story »
Federal regulators say two Spanish investors made illegal profits of $1.1 million by trading on secret information about BHP Billiton PLC’s bid to acquire Potash Corp. The Securities and Exchange Commission said Juan Jose Fernandez Garcia and Luis Martin Caro Sanchez bought investments that became valuable after the mining company offered $38.5 billion to take over fertilizer maker Potash. Garcia heads the research arm of a bank that was advising BHP on the deal.
The Securities and Exchange Commission has started a formal probe of possible insider trading by current and former officers and directors of mall owner General Growth Properties Inc.
General Growth, which has operated under bankruptcy protection since April 2009 and plans to exit later this year, disclosed the probe in its bankruptcy case Tuesday and in its quarterly report filed with the SEC last week. Get the full story »
