The U.S. Commodity Futures Trading Commission (CFTC) has announced that a US court has ordered a default judgment and permanent injunction against Ryan Magee, his wife Dalyne Magee and his father David Magee in connection with a commodity pool fraud that targeted US and Canadian participants.
Calgary-based family: fraudulent promises to investors of 200-300%
The court’s order requires that the Magees jointly pay back $715,069 in misappropriated customer funds and Ryan Magee to pay restitution of $1,324,490. Further penalties of $840,000 have been imposed on Ryan Magee and $140,000 each on David and Dalyne Magee. Furthermore, the Magees are also permanently banned from trading or registering with the CFTC.
Read the full article at Finance Magnates.