MakeYourFuture agrees to pay USD1.2 million for futures trading fraud

Tallinex

For defrauding American investors by offering and sale of a futures trading system marketed under the names “MakeYourFuture”, Kimball Parker of Lehi, Utah, and his Utah company are to pay back U1.2 million.

The judgment was awarded to the U.S. Commodity Futures Trading Commission, CFTC against MakeYourFuture and Kimball Parker.

Based on a Consent Order, entered on May 19, 2017, requires Parker and MYF, jointly and severally, to pay restitution to defrauded customers totaling $853,294.98, plus a $354,000 civil monetary penalty.

The CFTC said the court Court entered a Default Judgment against Defendants Timothy Baggett of Lakeland, Florida, and his Florida companies, Changes Worldwide LLC and Changes Trading LLC (together, Changes), also for fraud and other violations in connection with their role in the offering and sale of Parker’s futures trading system. The Default Judgment requires Baggett and Changes, jointly and severally, to pay restitution to defrauded investors totaling $498,600.97, plus a $1,495,802.91 civil monetary penalty.

In addition to the monetary sanctions, Defendants are prohibited from, among other things, directly or indirectly controlling or directing trading for or on behalf of other persons, soliciting or accepting funds for trading and seeking registration in any capacity, acting in any capacity requiring registration or exempted from registration, or acting as a principal of any person registered, required to be registered or exempt from registration.

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