Release: 4783-03
For Release: May 7, 2003

CFTC REVOKES REGISTRATIONS OF TWO INDIANA BROKERS

WASHINGTON, D.C. – The U.S. Commodity Futures Trading Commission (CFTC) announced today that on May 2, 2003, it simultaneously filed Notices of Intent to Suspend, Revoke, or Restrict David G. Johnson’s (Johnson) registrations as an Introducing Broker and Associated Person and Thomas T. Miller’s (Miller) registration as an Associated Person and accepted Offers of Settlement from Johnson, of Sweetser, Indiana, and Miller, of Marion, Indiana, who agreed to the revocation of their registrations.

Specifically, according to the Notices, on February 22, 2002 the Commission filed an amended complaint in CFTC v. Phillip L. Ferguson, et al., in the U.S. District Court for the Northern District of Indiana against Johnson and Miller. On February 12, 2003, the court entered Consent Orders of Permanent Injunction and Other Equitable Relief against defendant David G. Johnson and Thomas T. Miller (see CFTC News Release 4768-03, April 2, 2003). Among other things, the consent orders:

1. permanently enjoined Johnson and Miller from violating the anti-fraud and other sections of the Commodity Exchange Act (CEA);
2. ordered Johnson to pay $1.2 million and Miller to pay $8 million in restitution to investors;
3. prohibited Johnson and Miller from participating in the futures industry in any registered or exempt capacity; and
4. prohibited Johnson and Miller from trading on or subject to any registered entity and from engaging in, controlling or directing the trading of any futures or options accounts for or on behalf of any other person or entity.

The CFTC found that the orders entered by the District Court against Johnson and Miller and the facts underlying those orders constituted good cause under the CEA to revoke Johnson’s Introducing Broker and Associated Person registrations and Miller’s Associated Person registration.

Johnson and Miller, without admitting or denying the allegations against them, each consented to the entry of the CFTC orders finding that their registrations are subject to revocation, suspension or restriction and revoking their registrations.

The following CFTC Division of Enforcement staff were responsible for these cases: Rosemary Hollinger, Scott Williamson, Elizabeth Streit, and David Terrell.

A copy of the CFTC’s Notices and Orders may be obtained at www.cftc.gov.

Media Case Enforcement Contact:
Rosemary Hollinger
Regional Counsel, CFTC Central Regional Office
CFTC Division of Enforcement (312) 596-0520

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