Sun, Mar 26, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Oxford Capital sanctioned for $3.5m on commodities scheme; principal to serve prison time

Tuesday, March 11, 2014

Bailey McCann, Opalesque New York:

Illinois-based Oxford Capital and its principal Dimitry Vishnevetsky have been sanctioned by the U.S. District Court for the Northern District of Illinois following a complaint from the CFTC for commodities fraud and misallocation. The sanction amounts to $3.5m in penalties and fines. The court’s order also imposes permanent trading and registration bans against Vishnevetsky and Oxford and prohibits them from violating provisions of the Commodity Exchange Act, as charged.

As a result of a parallel criminal action brought by the US Attorney’s Office, Judge Castillo on March 4, 2013 sentenced Vishnevetsky to serve six years in prison. Vishnevetsky is currently incarcerated in the Federal Prison Camp in Duluth, Minnesota.

The court found that all of 2006 through April 2012, Vishnevetsky and Oxford fraudulently solicited approximately $1.74m from commodity pool participants and commodity customers. They defrauded pool participants by representing that their commodity pools had profitable performance records based on audited results when, in fact, they never conducted any trading for the pools. Additionally Vishnevetsky, individually and doing business as Hodges Trading LLC and Hodges Court Trading, defrauded other pool participants by misrepresenting that Hodges Trading issued Libor Notes and invested in commodity futures contracts to enhance the value of the purported Libor Notes. Vishnevetsky and Oxford also issued false account st......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He