Law360 (April 27, 2021, 10:08 PM EDT) — A federal judge has ordered a business owner who purported to buy and sell precious metals to pay nearly $1.4 million in connection with U.S. Commodity Futures Trading Commission allegations that he defrauded would-be buyers of gold and silver with misrepresentations about his now-defunct company.
In a Tuesday announcement, the CFTC said that U.S. District Judge Richard A. Jones had signed off on a consent order requiring Aaron Michael Scott to pay the sum as restitution and banning Scott from registering with the CFTC or trading commodities in the future.
The consent order, which was filed in December but announced this…
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