U.S. COMMODITY FUTURES TRADING COMMISSION FILES ENFORCEMENT ACTION AGAINST FORMER CEO OF RITTMEISTER CAPITAL MANAGEMENT, INC.
Pending Federal Criminal Charges Against Udo Rotmistrenko Alleged As Grounds for Suspending CFTC Registrations
WASHINGTON, D.C. – The U.S. Commodity Futures Trading Commission (CFTC) announced today that it commenced a registration action against Udo Rotmistrenko of Kew Gardens Hills, New York, seeking to modify or suspend his registration with the CFTC. The CFTC action is based on a federal criminal action charging Rotmistrenko with three felony counts of wire fraud in relation to foreign currency trading.
The May 26, 2004, criminal complaint filed by the U.S. Attorney’s Office for the Southern District of New York relates to Rotmistrenko’s actions while president of Rittmeister Capital Management, Inc., a foreign currency trading firm based in New York, New York. According to the criminal complaint, on three separate instances in 2000, 2002, and 2003, Rotmistrenko committed wire fraud in soliciting investments purportedly to be traded in the foreign currency markets. The case is pending before U.S. Magistrate Judge Michael H. Dolinger.
Rotmistrenko has been registered with the CFTC as a commodity trading advisor (CTA) and as an Associated Person (AP) of that CTA since March 15, 2000.
The Commission’s Notice of Intent states that the relevant criminal complaint charges Rotmistrenko with the commission of, or participation in, crimes involving violations of federal law that reflect upon the honesty or fitness of a registrant to act as a fiduciary and that are punishable by imprisonment for a term exceeding one year. Under the Commodity Exchange Act, Rotmistrenko’s registration can be suspended until the criminal action against him is resolved. If Rotmistrenko is found guilty of the charges, his CTA and AP registrations then can be permanently revoked.
The following CFTC Division of Enforcement staff members are responsible for this case: William Longwitz and Karen Kenmotsu.
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