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CFTC Goes After Minnesota Trader

MINNEAPOLIS (CN) - Charles Hayes took $5.5 million from investors with false claims about his Crossfire Trading company, the Commodity Futures Trading Commission claims in Federal Court. Hayes, of Rosemount, Minn., swiped money and gave investors false financial statements, claiming that his company provided 3% monthly returns with no losing months, the CFTC says.

The CFTC demands disgorgement, restitution, an injunctions and penalties.

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