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Violation Tracker Individual Record

Company: Draven, LLC
Penalty: $1,487,964
Year: 2017
Date: November 13, 2017
Offense Group: competition-related offenses
Primary Offense: fraud
Secondary Offense: securities issuance or trading violation
Violation Description: The Commodity Futures Trading Commission announced that a federal court in Arizona entered a Consent Order against Defendants Derek Springfield and his company, Draven, LLC, both of Mesa, Arizona finding that they fraudulently solicited and received at least $1.8 million from approximately 112 commodity pool participants in connection with pooled investments in commodity futures and foreign currency exchange.
Level of Government: federal
Action Type: agency action
Agency: Commodity Futures Trading Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.