Page 27 - 期货和衍生品行业监管动态（2023年7月刊）

期货和衍生品行业监管动态

The complaint charges that from approximately January 1, 2017 to the present

(relevant period), Foster and KEL solicited members of the public to participate in a

commodity pool to trade in commodity interests, including foreign currency (forex)
pairs and forex futures contracts, on a leveraged, margined, or financed basis with

participants who are not eligible contract participants.

During the relevant period, instead of trading pool participants’ funds as promised,

Foster and KEL misappropriated all of the pool participants’ funds by depositing them

into KEL’s corporate bank accounts rather than depositing them into an account in the

name of the pool at a futures commission merchant and/or a retail foreign exchange

dealer. Foster and KEL misappropriated, and continue to misappropriate, participants’

funds to pay Fosters’ personal expenses, including a car loan, insurance, credit cards,

and other daily living expenses. Additionally, Foster and KEL used approximately

$10.1 million of later-in-time participants’ funds to pay earlier-in-time participants

purported “profits” and/or “redemptions” in a Ponzi-like scheme.

The complaint further charges that throughout the relevant period, KEL acted at

all times as a commodity pool operator (CPO) without being registered with the CFTC
as required, and Foster acted at all times as an associated person of a CPO without being

registered with the CFTC as required. Also, KEL failed to make disclosures and keep

and maintain books and records as required by a CPO.

The CFTC cautions victims that restitution orders may not result in the recovery

of money lost because the wrongdoers may not have sufficient funds or assets. The

CFTC will continue to fight vigorously for the protection of customers and to ensure

the wrongdoers are held accountable.

https://www.cftc.gov/PressRoom/PressReleases/8744-23

7. 美国商品期货交易委员会宣布对某些参考 SOFR 和 SONIA 隔夜指数互换实

施交易执行要求（2023 年 7 月 7 日）

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