Fri, May 24, 2013
A A A
Welcome Guest
Free Trial RSS
New! Family Office and Investor Database with 11,750 contacts
Alternative Market Briefing

CFTC seeks to pull registration of fraudulent CTA
Monday, August 27, 2012

Bailey McCann, Opalesque New York: The Commodities Futures Trading Commission (CFTC) is seeking to revoke the registration of Texas-based CTA, Growth Capital Management LLC, following a fraud case being brought against the firm's principals by the regulator. In July, a judge for the U.S. District Court for the Northern District of Texas, ordered that Robert Mihailovich, Sr., the founder of Growth Capital Management pay $9.3m in fines to the CFTC for fraudulently soliciting over $30 million from customers to trade commodity futures contracts and foreign currency (forex). Mihailovich, and his son were both banned from further activities as financial professionals in the same case.

As alleged in the complaint, Mihailovich, Sr. was convicted and incarcerated on federal wire fraud charges, served 27 months, and while on a three-year supervised release, fraudulently solicited and accepted more than $30 million from approximately 93 customers to open managed trading accounts. The complaint also alleges that at the time Robert Mihailovich, Jr. registered Growth Capital Management he failed to disclose his father's involvement in the firm. Mihailovich Sr. also consistently failed to comply with a range of court orders, failed to adequately communicate with regulators and also failed to make required court appearances.

In June, The CFTC had also ......................

To view our full article Click here
Article link
Banner
Today's Exclusives Today's Other Voices Banner More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Endurance Series Trust launches first mutual fund, multi-series trust[more]

    Bailey McCann, Opalesque New York: Endurance Series Trust, a multi-series trust, is launching with Gator Capital Management, LLC as the adviser for the Trust’s first mutual fund series. Endurance Fund Services, LLC, an independently owned and operated fund administration company will serve as t

  2. Morgan Creek Capital Management to acquire Signet Capital Management[more]

    Bailey McCann, Opalesque New York: Investment firm Morgan Creek Capital Management has acquired Signet Capital Management a UK-based credit fund of funds with $700M in assets under management. Under the agreement, Signet will contribute its funds and senior investment management team to Morgan Creek

  3. Moore Capital founder Louis Bacon to anchor $750m senior loan fund[more]

    From PEhub.com: Billionaire hedge fund manager Louis Bacon is placing a big bet on mid-market lending by backing a new firm that is seeking to raise a $750 million debt fund aiming at the lower end of the middle market, two sources told sister magazine Buyouts. Bacon, the founder of Moore Capi

  4. North America – Students are launching hedge funds on colleges across America[more]

    From Valuewalk.com: …From Cornell, whose student-run hedge fund beat Wall Street returns to the University of Michigan, which allows its students to manage as much as $250,000, student hedge fund are becoming a more prominent part of financial education. Their success has attracted the attention of

  5. Passive, Synthetic Royalty Financing Opportunity: Target returns that fall between equity and mezzanine debt, or the mid-teen’s to the mid 20’s, depending on the risk of the specific investment
Click here for More about Opalesque Tracking
- A new, unique Premium Service -
  1. NZARA
  2. 36 South
  3. Cultivar
  4. New Zealand
  5. Aspiring
  1. managed account
  2. Ucits
  3. man group
  4. hedge funds
  5. global macro