For Release: January 2, 1997
CFTC PREVAILS IN ACTION TO ENFORCE ADMINISTRATIVE SUBPOENAS REQUIRING TESTIMONY AND PRODUCTION OF DOCUMENTS RELATED TO LONDON FINANCIAL, INC. OF JUPITER, FLORIDA
WASHINGTON -- The Commodity Futures Trading Commission (CFTC) announced today that Magistrate Judge Attridge of the U.S. District Court for the District of Columbia has issued two Orders Requiring Obedience to Administrative Subpoenas, which compel compliance with three administrative subpoenas issued by the CFTC: two to Katherine Arnold of Jupiter Florida, and one to the Custodian of Records of London Financial, Inc., also of Jupiter, Florida. (See CFTC News Release #3971-96, November 27, 1996.)
The orders require both Ms. Arnold and the Custodian of Records to appear at the CFTC's offices in Washington, D.C., on January 28, 1997. Ms. Arnold has been ordered to produce records and provide testimony, and the Custodian has been ordered to produce records.
The orders arose out of two applications filed with the court by the CFTC to compel compliance with the subpoenas issued to Ms. Arnold, her son, Curtis Arnold, and the Custodian of Records of London Financial, Inc.
A hearing on the court's Order to Show Cause why Curtis Arnold should not be ordered to comply with three CFTC subpoenas issued to him is scheduled before Judge Magistrate Attridge on January 27, 1997.