The U.S. Commodity Futures Trading Commission (CFTC) today announced the revocation of the registrations of Robert A. Christy of Milton, Georgia, and his company, Crabapple Capital Group LLC (Crabapple) of Alpharetta, Georgia. Crabapple was registered with the CFTC as a Commodity Pool Operator and Commodity Trading Advisor, and Christy was registered as an Associated Person of Crabapple and listed as its sole principal.
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On April 16, 2013, the CFTC Judgment Officer issued an Initial Decision on Default against Christy and Crabapple finding that they were statutorily disqualified from CFTC registration based on the consent Order of permanent injunction entered by the U.S. District Court for the Northern District of Georgia on October 16, 2012 (see CFTC Press Release 6400-12, October 23, 2012). The court’s Order, among other things, (1) finds that Christy and Crabapple violated the Commodity Exchange Act (CEA) and CFTC Regulations by engaging in fraud and misappropriation in connection with their operation of a Ponzi scheme, (2) permanently enjoins Christy and Crabapple from engaging in fraudulent conduct in violation of specified provisions of the CEA and CFTC Regulations, and (3) prohibits Christy and Crabapple from acting in any capacity requiring registration or acting as a principal or agent of a registrant. On May 16, 2013, the Judgment Officer’s Initial Decision became the Order of the Commission.
CFTC Division of Enforcement staff members responsible for this case are Jo Mettenburg, Tom Simek, Stephen Turley, Charles Marvine, Richard Glaser and Richard Wagner.
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By GlobalData
