Friday, 22 May 2015
Last updated 8 hours ago
Jan 25 2008 | 1:00am ET
A Virginia commodity pool operator charged with defrauding his investors has settled with the Commodity Futures Trading Commission.
Robert Lee Roane will pay $739,000 to dispose of allegations that he lied to investors and misappropriated funds. The CFTC has also banned him from trading and barred him from applying for registration with the regulator.
According to the CFTC, Roane raised nearly $800,000 from investors in 2005 and 2006, lying about past success—actually non-existent—in trading, promising a foolproof system. He wound up losing most of his clients’ money, and misappropriating much of the rest, spending $137,900 on personal expenses and another $28,600 to repay other participants.
To top it all off, the CFTC said, he was unregistered when running the commodity pool.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…