CFTC: Federal Court Orders Scott Platto And His Company The Yorkshire Group, Inc. To Pay More Than $1.56 Million For Engaging In Illegal, Off-Exchange Precious Metals Transactions

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court default judgment Order Adopting the Report and Recommendation (Order) against Defendants The Yorkshire Group, Inc. (Yorkshire) and its principal Scott Platto. The Order stems from a CFTC Complaint, filed on September 25, 2013, that charged the Defendants with engaging in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined or financed basis (see CFTC Complaint and Press Release 6713-13, September 26, 2013). At the time the CFTC filed the Complaint, Platto’s residence and Yorkshire’s offices were in Staten Island, New York.