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Thursday, October 21, 2010

Man sentenced for commodity trading system

A man was sentenced to imprisonment in Cincinnati in Vanderburgh Circuit Court on Monday after pleading guilty to fraudulent goods trading system.

Pleaded Robert Kyle Buchanan, 54, producers responsible for accepting the $ 10,000 from a woman Evansville December 2009 and promises that it will turn into $ 1 million a year, according to Court records.

He was sentenced to a multitude of any fraudulent, the sale of a commodity contract and failed to register as a goods merchant.

The entered into a written agreement with the woman using business name Lew Trading, claiming that he was a broker registered with the Commodity Futures Trading Commission, according to the complaint filed originally in Vanderburgh Superior court.

Dimitriou, according to the complaint was lodged by a commodity trading account for the client on the other hand, he deposited into an account AT PNC Bank in accordance with the name of the son and ex-wife and then withdrawn as cash on the day.

The deposit and withdrawal take place without the son or former spouse of knowledge, and Buchanan was not entitled to use the account, according to the complaint.

Circuit Court magistrate Kelli Fink was Lew in two years for each of the three counts, to be served at the same time, the Indiana Department of corrections.

Also is to be ordered to pay $ 10,000 AT PNC Bank.


View the original article here

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