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Case Status Report: Phillip Milton and William and Gregory Center

  • U.S. Commodity Futures Trading Commission v. Milton, et al., Civil Action No. 9:10-80738-Civ-Hurley (S.D. Fla. June 22, 2010)

    On, July 15, 2010, Jeffrey C. Schneider was appointed as Receiver over the Defendants’ assets. He is currently working to locate, gather, and distribute the assets.

    The Receiver’s contact information is:

    Jeffrey C. Schneider, Esq. (Receiver)
    Patrick Rengstl (counsel for the Receiver)
    Levine Kellogg Lehman Schneider & Grossman LLP
    201 South Biscayne Boulevard
    34th Floor, Miami Center
    Miami, FL 33131
    305.403.8788 (main)
    305.403.8789 (fax)

    The CFTC has signed consent orders in which Milton and William Center consent, but do not admit, to liability. Damages are to be determined at a later date. The case against Trade, LLC and Gregory Center is ongoing.

    On June 22, 2010, the CFTC filed a complaint against defendants Philip Milton, Gregory Center, William Center, and Trade, LLC. The complaint also named BD, LLC, CMJ Capital, LLC, Center Richmond, LLC, and TWTT, LLC as relief defendants. The complaint alleges that the Defendants operated an unregistered $28 million commodity futures pool. The Defendants are charged with violations of the Commodity Exchange Act, as amended. They allegedly misappropriated funds directly and through a Ponzi scheme, and fraudulently solicited funds. The Relief Defendants were owned by the individual Defendants and received ill-gotten gains from the Trade LLC operation.

    Related Documents:

    Last Updated: April 15, 2011



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