Edwin A. Vasquez a resident of North Carolina and his company, Vasquez Global Investments, LLC have been found guilty of fraud by The U.S. Commodity Futures Trading Commission stemming from a complaint filed against Vasquez and his firm on July 30, 2014 for misappropriation, solicitation fraud, and issuing false statements in connection with the operation of an unregistered commodity trading pool which he called Vasquez pool.
The CFTC decided that Vasquez and his firm Vasquez Global Investments, LLC were found to be jointly liable for the allegations of fraud and are required to pay $331,556 in restitution, a civil monetary penalty of $994,668, and imposes permanent trading, solicitation, and registration bans against all Defendants.
It was discovered that the defendant made deceptive claims of running a risk free investment scheme, attracting about 19 investors, attracting at least $583,491 to Vasquez pool. Enquiries show that losses of $583,491 were recorded in trading commodity futures and misappropriated $331,556 for VGI’s operating costs and for Vasquez’s personal expenses, including travel, restaurants, and retail purchases. Vasquez concealed this losses and issued false claims to investors regarding the profitability of the fund.
CFTC’s Enforcement staff; Elizabeth N. Pendleton, Joseph Patrick, Susan Gradman, Nancy Hooper, Scott Williamson, and Rosemary Hollinger are responsible for the case.