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U.S. Commodity Futures Trading Commission Files and Settles Charges Against Florida Resident and His Company for Violating Exchange Trading Limits at the New York Board of Trade
Andrew Machata and Rolling Meadow Ranch, Inc. Agree to Pay $130,000 Civil Monetary Penalty
Washington, D.C.— The Commodity Futures Trading Commission (CFTC) today announced the issuance of an order filing and simultaneously settling charges of violating trading limits for frozen concentrated orange juice commodity futures contracts at the New York Board of Trade (NYBOT) against Andrew Machata of Vero Beach, Florida and his company, Rolling Meadow Ranch, Inc. (RMR).
The CFTC order, entered on September 27, 2006, finds that, between March 2004 and August 2005, RMR, by and through Machata, traded frozen concentrated orange juice futures contracts on the NYBOT and exceeded the position limits set by the NYBOT in violation of the Commodity Exchange Act. Machata, as president and sole operator of RMR, opened the trading accounts, determined trading strategies, and placed all trades, according to the order.
The order finds that Machata and RMR are jointly and severally liable for a civil monetary penalty in the amount of $130,000.
The CFTC’s Division of Enforcement appreciates the NYBOT’s assistance in this matter.
The following Division of Enforcement staff members were responsible for this case: Michael R. Berlowitz, Judith M. Slowly, David Acevedo, Lenel Hickson, Jr., Stephen J. Obie, and Richard B. Wagner.