Chicago-based investment fund administrator and commodity trading adviser
AlphaMetrix Group has denied fraud charges brought against it by the Commodity
Futures Trading Commission in a botched plan to pay $2.8m to customers in
AlphaMetrix told the court that the CFTC was responsible for preventing the firm
"from effectuating its repayment of all of the rebates owed, the complete
liquidation of the Funds at 100 percent of their value and the full repayment,"
reported Chicago Business.
In a lawsuit the CFTC filed in November against AlphaMetrix, the agency accused the
firm of allegedly misappropriating $2.8m that should have been paid to its
However, AlphaMetrix defended itself and said that CFTC lawsuit and its move to
appoint a corporate monitor to oversee the dismantling of AlphaMetrix actually
prevented them from returning some $600,000 to clients. It added that they already
settled the $2.2m it owed to one client after it signed a promissory note in October
that both sides have agreed on.
AlphaMetrix told a court in Chicago, "While AlphaMetrix was entitled to be paid (and
in fact was paid) the fees subject to the side letters, AlphaMetrix agreed in
certain side letters to rebate certain fees to the pool participant by reinvesting
such fees back into the Funds at a later ......................