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CFTC to revoke CPO and CTA registrations of Veruus Wealth Management

The US Commodity Futures Trading Commission (CFTC) has filed a notice of intent to revoke the registrations of Veruus Wealth Management, a registered commodity pool operator and commodity trading advisor.

 
The notice alleges that Veruus is subject to a statutory disqualification from CFTC registration based on an order of default judgment entered by the District Court for the City and County of Denver, Colorado on 28 November 2012.
 
In that private litigation the plaintiffs alleged that the defendants solicited them to invest in a Veruus-managed foreign exchange trading account and that they were the victim of civil theft and conversion. The judgment order entered by the court found Veruus liable for civil theft and conversion of USD339,517.79 in customer funds.

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