U.S. Commodity Futures Trading Commission v. Sharif: A federal judge in Connecticut has ordered a man accused of running a Ponzi scheme that defrauded investors of millions of dollars to pay more than $3 million in restitution and civil penalties.
Feisal Sharif, 43, of Branford, was ordered by U.S. District Judge Stefan Underhill to pay $2.23 million in restitution to defrauded customers and a $900,000 civil penalty. The judge also ordered permanent trading bans against Sharif for violations of the Commodity Exchange Act, which regulates the trading of commodity futures in the United States.
