Page 26 - 期货和衍生品行业监管动态（2025年8月）

期货和衍生品行业监管动态

accepting $1,492,650 from pool participants to trade forex contracts in a commodity

pool the defendants operated. [See CFTC Press Release No. 7588-17]. As alleged,

the majority of the pool participants were LaMarco’s friends and acquaintances. He

lost nearly all of their funds through unsuccessful trading in his personal account and

by diverting $630,050 of the total principal to some pool participants as purported

“profits” in the nature of a “Ponzi” scheme.

The summary judgment report and recommendation found LaMarco committed

fraud as a commodity pool operator and made material misrepresentations and

omissions to existing and prospective pool participants. The order further found

LaMarco misappropriated pool participants’ funds for personal use and conducted no

trading on behalf of participants.

Sanctions Ordered Against LaMarco

Additionally, in a June 20, 2025 order the court sanctioned LaMarco for his

misconduct in making repetitive, defamatory and false allegations against the CFTC

and its counsel through pleadings and letters. The court struck portions of LaMarco’s

filings from the record and determined “LaMarco continuously asserts untrue and

false accusations against the plaintiff in the filings,” demonstrating bad faith conduct.
The court also found LaMarco’s threats to CFTC counsel were “inexcusable.”

Related Criminal Action

In a related criminal action involving the same conduct at issue in the CFTC’s

case, LaMarco earlier pleaded guilty to one count of commodities fraud and one count

of wire fraud in U.S. v. LaMarco, No. 2:16-cr-433 (E.D.N.Y.). On February 3, 2017,

LaMarco was sentenced to 42 months in prison and ordered to pay $872,600 in

restitution.

The CFTC cautions that orders requiring repayment of funds to victims may not

always result in the recovery of any money because the wrongdoers may not have

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