Violation Tracker Individual Record

Company: 
Draven, LLC
Penalty: 
$1,487,964
Year: 
2017
Date: 
November 13, 2017
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 Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.