Page 16 - 期货和衍生品行业监管动态（2022年11月）

期货和衍生品行业监管动态

The CFTC charged the defendants in connection with the CTAX Series 1, LLC
commodity pool (CTAX pool). The complaint alleged, and the court found, that

during the relevant period from approximately July 25, 2014 to March 22, 2019,

Mankad and CTAX Series (1) represented to pool participants that only experienced

commodity trading advisors (CTAs) would trade funds in the CTAX pool, when in

reality Mankad, who was not a CTA and had limited, unsuccessful experience trading

futures, engaged in much and eventually all trading in the CTAX pool; (2)

misrepresented and omitted material facts regarding brokerage commissions that

would be charged to the CTAX pool, when in fact Mankad and CTAX Partners

misappropriated pool funds by extracting excessive commissions triggered by

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Mankad’ own unauthorized trading; (3) beginning in July 2018, recklessly traded the
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CTAX pool’ assets in a manner that resulted in a loss of approximately 89 percent of
the CTAX pool ’ s assets, resulting in significant losses to pool participants; (4)

concealed those losses from pool participants by intentionally delaying the provision
of monthly account statements to pool participants; and (5) submitted false emails to

the NFA, in connection with an NFA audit of CTAX Series and CTAX Partners, to

make it appear that the defendants provided timely account statements to all pool

participants. As a result of this conduct, pool participants lost more than $1.9 million.

The CFTC previously issued an order simultaneously filing and settling related

charges against Paul Ohanian, an SEC-registered investment advisor based in

Scottsdale, Arizona, and his advisory firm Scottsdale Wealth Planning, Inc., for

intentionally or recklessly omitting material facts from communications with their

clients who were pool participants contributing funds to the CTAX pool and for

failing to register with the CFTC as CTAs. That order required Ohanian and

Scottsdale Wealth to pay $338,000 in restitution and a $169,000 civil monetary

penalty, among other things.

Today ’ s resolution against the defendants, combined with the order against
Ohanian and Scottsdale Wealth, resulted in the CFTC securing orders requiring full

restitution to be paid to victims.

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