The following is from the CFTC...
Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a notice of intent to revoke or restrict the registration of Raleigh Capital Management, Inc. (RCM), a Chicago, Ill.-based commodity pool operator.
The CFTC’s notice alleges that RCM is subject to disqualification from registration under the Commodity Exchange Act (CEA) based upon the entry of an order for permanent injunction by the U.S. District Court for the Northern District of Illinois on May 12, 2011 (see CFTC Press Release 6047-11, June 1, 2011). The court’s order stems from a CFTC anti-fraud enforcement action filed on October 28, 2009. The CFTC complaint charged RCM and its sole principal, Richmond Hamilton, Jr., with misappropriating more than $1 million from the Raleigh Fund, LP, an $8.3 million commodity pool organized by Hamilton (see CFTC Press Release 5744-09, October 30, 2009).
The order requires RCM and Hamilton jointly and severally to pay a $3,015,000 civil monetary penalty and prohibits RCM and Hamilton from engaging in any commodity-related activity, including trading and registering with the CFTC in any capacity, among other sanctions.
CFTC Division of Enforcement staff members responsible for this case are Joseph Konizeski, Scott Williamson, Rosemary Hollinger, and Richard Wagner.