Bringing you live news and features since 2006 

Timothy Michael Murphy and Centurion Global Capital Management to pay USD360,000 over commodity pool solicitation fraud


The Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against Timothy Michael Murphy of Redding, Connecticut, and his New York-based company, Centurion Global Capital Management LLC (CGCM), for fraudulently soliciting at least 40 customers to participate in a commodity pool.

The CFTC’s order requires Murphy and CGCM jointly and severally to pay both a USD140,000 civil monetary penalty and restitution of USD220,000. The order also permanently prohibits CGCM and prohibits Murphy for a five-year period from trading on a CFTC-registered entity and from registering or seeking exemption from CFTC registration.

The order finds that between about May 2009 and January 2010, CGCM, through Murphy, used a promotional sheet to solicit participants for their commodity pool, Centurion Multi-Strategy LP, that Murphy knew contained false and/or misleading information regarding the trading performance history of one of the two Commodity Trading Advisors that were to trade the pool’s futures accounts. Murphy sent and/or caused this fraudulent promotional sheet to be sent by email and other means to at least 40 pool participants, the order finds. From about September 2009 through July 2010, Murphy received approximately USD220,000 from CGCM from the fees and commissions generated by the Centurion pool, according to the order. The Centurion pool was liquidated in or about July 2010, and the remaining funds were returned to pool participants, the order further finds.

The CFTC thanks the National Futures Association (NFA) and the Swiss Financial Market Supervisory Authority (FINMA) for their assistance.

CFTC Division of Enforcement staff members responsible for this case are Joseph Rosenberg, Mark A Picard, Sheila Marhamati, Philip Rix, Steven I Ringer, Lenel Hickson, Stephen J Obie, and Vincent A McGonagle.


Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by