The Commodity Futures Trading Commission announced that the U.S. District Court for the Eastern District of New York entered a final judgment against Daniel Winston LaMarco totaling USD 3,450,400, combining restitution and a civil monetary penalty, and imposed permanent injunctive relief and a permanent ban on commodity-related activity. The judgment orders USD 862,600 in restitution to victims and a USD 2,587,800 civil monetary penalty, permanently enjoins violations of the Commodity Exchange Act as charged, and bars LaMarco from commodity-related activity. It follows prior court rulings granting the CFTC summary judgment on liability for forex fraud and commodity pool operator fraud against LaMarco, and a default judgment against LaMarco’s company, GDLogix, Inc., on all counts including fraud and failure to register as a commodity pool operator, with permanent trading and registration bans and the same restitution and penalty amounts. The orders resolve the CFTC’s enforcement action alleging LaMarco and GDLogix fraudulently solicited and accepted USD 1,492,650 to trade forex in a commodity pool, lost nearly all funds through unsuccessful trading and diverted USD 630,050 to some participants as purported profits in a Ponzi-like scheme; the court also sanctioned LaMarco in a separate order for bad-faith filings and threats toward CFTC counsel.
Commodity Futures Trading Commission 2025-08-12
US Commodity Futures Trading Commission secures USD 3.45 million final judgment and permanent market ban against Daniel Winston LaMarco
The Commodity Futures Trading Commission announced a final judgment by the U.S. District Court for the Eastern District of New York against Daniel Winston LaMarco, totaling USD 3,450,400 in restitution and penalties, with a permanent ban on commodity-related activity. The judgment follows prior rulings on forex and commodity pool operator fraud, involving LaMarco and his company, GDLogix, Inc., which fraudulently solicited USD 1,492,650 and operated a Ponzi-like scheme. The court also sanctioned LaMarco for bad-faith filings and threats toward CFTC counsel.