More Traders in Trouble: The Commodity Futures...
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More Traders in Trouble: The Commodity Futures Trading Commission has charged 22 traders with profiting through a scheme to prearrange trades for U.S. Treasury bond futures contracts. The agency, in a six-count administrative complaint, said the 22 executed a series of bogus transactions with a floor broker on the Chicago Board of Trade in July, 1986. The CFTC said a hearing will be scheduled before an administrative law judge. The accused traders face possible penalties ranging from fines of $100,000 per violation to revocation or suspension of their licenses and trading privileges.
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