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Friday, June 14, 2024 | Back issues
Courthouse News Service Courthouse News Service

Commodity Trader|Whacked for $360,000

WASHINGTON (CN) - The CFTC fined Timothy Michael Murphy and Centurion Global Capital Management $140,000 and ordered them to pay $220,000 in restitution for fraudulently soliciting 40 customers to invest in a commodity pool.

The Commodity Futures Trading Commission also barred Murphy, of Redding, Conn., from trading in CFTC-registered entities and from registering or seeking exemption from CFTC registration for 5 years.

Murphy's Centurion company was based in New York.

In its settled complaint, the CFTC said that Murphy took money for his alleged commodity pool, Centurion Multi-Strategy LP, from May 2009 until January 2010.

It claims that Murphy knew he was disseminating false and misleading information to his investors.

The Centurion pool was liquidated in July 2010 and the money left in it was returned to investors.

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