Wednesday, 7 October 2015
Last updated 20 hours ago
Feb 14 2007 | 11:04am ET
CTA-wannabe Gilbert Philip Castillo is finding out that it’s easier to actually register as a trading advisor than not. On Feb. 5, Castillo and his allegedly sham trading advisory practice, Castle Enterprise Corporation, were charged by U.S. District Court Judge Thelton Henderson in the Northern District of California with fraudulent solicitation of investors without registration.
From at least Feb. 1, 1999, through mid-2005, Castillo allegedly operated the WallStreetWar.com, CastilloResearch.com and Never-Lose.com Web sites and made fraudulent representations to the general public regarding his trading prowess. Investors allegedly bought into Castillo’s managed account programs, trading systems and training courses to the tune of more than $800,000.
Castillo was ordered to disgorge $814,000 in restitution and pay a $480,000 civil penalty. He is also permanently barred from engaging in any business activities related to commodity futures.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…