Federal Court In California Orders Ralph Metters, Aka Malachai âMoeâ Levy, To Pay A $500,000 Penalty And Disgorge $500,000 Of Ill-Gotten Gains For Defrauding Investors In A Foreign Currency Scheme - In A Related Criminal Action, Metters Pleaded Guilty To Conspiracy To Commit Wire Fraud And Was Sentenced To 108 Months Of Imprisonment

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Manuel L. Real of the U.S. District Court for the Central District of California entered a Consent Order settling CFTC charges against Defendant Ralph Metters, formerly of Los Angeles, California, imposing a $500,000 civil monetary penalty and requiring Metters to disgorge $500,000 of ill-gotten gains, in connection with off-exchange foreign currency (forex) fraud in violation of the Commodity Exchange Act (CEA). The Order also permanently enjoins Metters from further violations of the CEA, as charged, and imposes permanent trading and registration bans on him.