June 22, 2011

Life Insurance & Annuities Alert

We write today about an action filed by the United States Commodity Futures Trading Commission (CFTC) against Elite Management Holdings Corporation (EMHC), MJM Enterprises LLC (MJM) and their owners for allegedly operating a multimillion-dollar fraudulent scheme. According to the complaint, defendants used “numerous investment pools operated by defendants [EMHC and MJM], both of which were unregistered commodity pool operators (CPOs) [to orchestrate] a fraudulent scheme that induced more than 130 pool participants … to invest at least $4.7 million in the pools.” The CFTC seeks injunctive relief, “civil monetary penalties” and “trading and registration bans.”

Click on the PDF link below to view the full alert.

The Faegre Drinker Biddle & Reath LLP website uses cookies to make your browsing experience as useful as possible. In order to have the full site experience, keep cookies enabled on your web browser. By browsing our site with cookies enabled, you are agreeing to their use. Review Faegre Drinker Biddle & Reath LLP's cookies information for more details.