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Violation Tracker Individual Record

Company: Freepoint Commodities LLC
Penalty: $91,000,000
Year: 2023
Date: December 14, 2023
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Commodity Futures Trading Commission issued an order simultaneously filing and settling misappropriation-based fraud charges against Freepoint Commodities LLC, a commodities merchant in Stamford, Connecticut. The fraudulent and deceptive conduct spanned from 2012 to 2018 and involved unlawful misconduct designed to obtain material non-public information from a South American state-owned enterprise (SOE) in connection with the purchase and sale of fuel oil. The order required Freepoint to pay more than $91 million in civil monetary penalties and disgorgement.
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.