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Violation Tracker Individual Record

Company: DG Wealth Management
Penalty: $17,499,623
Year: 2016
Date: July 5, 2016
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Violation Description: The U.S. Commodity Futures Trading Commission announced that the U.S. District Court for the Middle District of Florida entered a final judgment requiring Defendants Dorian Garcia and his companies DG Wealth Management, Macroquantum Capital LLC, UKUSA Currency Fund, and DG Wealth's successor, Quanttra LP, all of Naples, Florida, jointly to pay restitution totaling $5,051,052 to defrauded investors victimized in a Ponzi scheme they operated from 2010 to 2015. The judgment also required the defendants jointly to pay a $7.5 million civil monetary penalty and to disgorge $4,948,571 in ill-gotten gains.
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.