U.S. Commodity Futures Trading Commission v. Yellowstone Partners, Inc., et al., Civil Action No. 5:10-CF-85-FL, (E.D. NC March 9, 2010)
On March 31, 2011, the Court issued an order granting the CFTC's motion to appoint Bruce McDaniel as temporary receiver over the Defendants' property. Mr. McDaniel’s contact information is:
McDaniel & Anderson, LLP
P.O. Box 58186
Raleigh, NC 27658
Phone: (919) 872-3000
Fax: (919) 790-9273
On March 1, 2011, the Court granted the CFTC's motion for entry of default judgment. The Court found the total amount of the loss caused by the Defendants’ fraudulent conduct was $827,779. Hagemann and Yellowstone are jointly and severally liable for making full restitution to the people they defrauded in an amount of $827,779. The Defendants are also jointly and severally liable for a civil monetary penalty of $827,779. Additionally, the Defendants are permanently enjoined from a number of activities related to commodity futures, including the trading of commodity futures, options on commodity futures, commodity options, and forex.
On March 9, 2010, the U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against Dennis Todd Hagemann (“Hagemann”) and Yellowstone Partners, Inc. (“Yellowstone”). In that complaint, the CFTC alleged that the defendants violated the Commodity Exchange Act, as amended, by fraudulently soliciting and misappropriating funds from approximately 25 pool participants. Yellowstone Partners, Inc. is not related to Yellowstone Partners, LLC, an SEC-registered Investment Adviser in Idaho Falls, Idaho.
Last Updated: April 15, 2011