CFTC Charges California Residents Frank J. Collins and Gerard Suite and Their Company, STA Opus NR LLC, with Fraud, Misappropriation, and Failing to Register with the CFTC

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court, Central District of California, charging Defendants Frank J. Collins of Garden Grove, California, and Gerard Suite of Irvine California and their Delaware limited liability company, STA Opus NR LLC, with fraudulently soliciting at least $1.6 million from at least 30 customers to operate a commodity pool and misappropriating approximately $1.25 million of customers’ funds for their own benefit.