| National Futures Association (NFA) announced today that it has distributed close to $3.4 million to 242 investors as part of a consent order issued on April 11, 2008, against E-Metal Merchants, Inc. and two of the firm's officers, Benji Dayan and Andrew Stern.
The case was filed by the Commodity Futures Trading Commission (CFTC) in the United States District Court for the Southern District of Florida.The consent order arises from a CFTC lawsuit filed on June 13, 2005, which alleged that E-Metal Merchants purchased and sold illegal off-exchange metal options in violation of the Commodity Exchange Act (CEA) and CFTC regulations. The consent order provides that Dayan and Stern are liable for the firm's violations of the CEA and CFTC regulations...... Full Press Release: Source
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