CFTC Charges Former Commodities Analyst and Firm with Unauthorized Trading

The CFTC charged Bradley A. Miklovich, a former senior commodities analyst for Rice Investment Company ("Rice"), with commodity futures fraud.

The Complaint alleges that, from July 23, 2013 through July 30, 2013, Miklovich placed trades for more than 2,000 commodity futures and options contracts for two customers' non-discretionary accounts without authorization to place those trades. Miklovich concealed his unauthorized trading from Rice by preparing for the firm phony daily reconciliations that failed to account for the unauthorized trades that he placed. The Complaint also states that Miklovich allegedly falsified daily customer account summaries and caused those summaries to be sent to one of the customers to conceal his unauthorized trading from that customer.

See: CFTC Complaint.