Commodity Trader Archives - The Industry Spread

CFTC Obtains $2.1 Million Judgment Against Iowa Commodity Trader for Fraudulent Scheme

December 25, 2018

The Commodity Futures Trading Commission (CFTC) announced today that on November 26, an Order and Judgment by Default (Order) was entered against Lon Olen Friedrichsen (Friedrichsen) of Alton, Iowa in connection with a fraudulent scheme to illegally trade NYMEX West Texas Intermediate Light Sweet Crude Oil futures contracts on behalf of customers.