CBOT Traders in $2 million fraud

More shenanigans involving pit traders.



http://www.chicagotribune.com/business/chi-biz-cbot-treasury-fraud-april1,0,2743726.story

 

It's been nearly, exactly five years since "that day".

 

Good. Let's see how they like getting f*cked for a change.

Don't complain. This is lightning fast compared to the SEC.

 

When I took my CBOT member orientation, the spookiest thing that the lecturer told us was that a single violation could potentially be prosecuted by multiple entities: i.e. the CBOT, the NFA, the City of Chicago, Cook County, the State of Illinois and an "alphabet soup" of other federal agencies. The room went dead silent and most everybody turned as white as a ghost.

 

Crooks at the CBOT or Merc? Now that's a surprise! The NFA and CFTC are jokes.

 

What % of these kind of scams you think get caught?

90%
50%
1%
.00000000001%

 

I had no idea you were a CBOT member Nazz that's pretty cool, did you ever trade on the floor?

 

thats how REAL traders make $$$ over the Long run.

 

No wonder why they are fighting not to be regulated by anyone but the CFTC.

Time to close the pits and move everything electronic. With an electronic market everything can be traced. In the pit they can get away with anything.

 

D) 0.000000001%

That shit probably happens every day, all day.