The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Robert J. Conrad, Jr. of the U.S. District Court for the Western District of North Carolina entered a Final Judgment and Consent Order (Order) against Defendants James A. Shepherd and his company, James A. Shepherd Inc. (JAS Inc.), requiring them to pay, jointly and severally, a $7 million civil monetary penalty and $8,060,810.43 in restitution to defrauded commodity pool participants. The Court’s Order also permanently prohibits Shepherd and JAS Inc. from further violations of the Commodity Exchange Act (CEA) and CFTC Regulations, as charged, and imposes permanent trading and registration bans on them. According to the Order, Shepherd formerly resided in Vass, North Carolina, and JAS Inc. is a Delaware corporation with a principal place of business in Southern Pines, North Carolina.
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