CFTC Orders Individual to Pay Penalty to Settle Charges of Making False and Misleading Statements during a CFTC Investigation

The CFTC issued an Order filing and settling charges against Sean R. Stropp for making false and misleading material statements and omitting material facts to CFTC staff during a CFTC Division of Enforcement ("DOE") investigation.

According to the Order, Stropp provided DOE staff with a signed and notarized financial disclosure statement in connection with the CFTC's investigation into potentially unlawful sales of off-exchange leveraged metals contracts by Stropp and his company, Barclay Metals, Inc. ("Barclay"); however, Stropp falsely represented that the statement included all his known assets and that the statement was true, correct and complete. Further, the Order found that Stropp omitted material facts from the statement, including both his control of, and his spouse's ownership interest in, another entity selling leveraged metals contracts and his ownership and control of two of that other entity's bank accounts.

See: CFTC Order.