WASHINGTON D.C. (WJON News) - The Commodity Futures Trading Commission has filed a civil enforcement action against a grain trader in Otsego.

The CFTC has charged Richard Miller and his company, Flip 2 Futures Trading Company LLC, with fraud, misappropriation, and unregistered activity relating to trading on behalf of a commodity pool run by Justin Dendinger and Punch Drunk Marketing, LLC, of Somerset, Wisconsin.

According to the criminal complaint, Flip 2 Futures Trading allegedly collected funds from Punch Drunk Marketing without providing the required disclosure documents and failing to maintain the required records.

In addition, the Commodity Futures Trading Commission alleges Miller misrepresented his futures trading performance and misappropriated funds from the pooled trading account.

In addition, Dendinger is charged with making false or misleading statements to the CFTC. Allegedly, Punch Drunk Marketing collected more than $400,000 from nine pool participants but did not transfer all the money to a trading account or provide the required disclosure documents.

The CTFC is asking for full restitution, return of any gains, a monetary penalty, and permanent registration and trading bans.



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