Release Number 6668-13

August 21, 2013

CFTC Seeks to Revoke the Commodity Pool Operator and Commodity Trading Advisor Registrations of Veruus Wealth Management, LLC

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today filed a Notice of Intent (Notice) to revoke the registrations of Veruus Wealth Management, LLC (Veruus), a registered Commodity Pool Operator and Commodity Trading Advisor.

The Notice alleges that Veruus is subject to a statutory disqualification from CFTC registration based on an Order of default judgment entered by the District Court for the City and County of Denver, Colorado on November 28, 2012. In that private litigation (DRCK LLC, et al, v. Direction Labs, Inc., Veruus Wealth Management, LLC, et al, Case No. 2012CV5305 (Denver Co. D. Ct., 2nd JD, filed August 24, 2012)), the plaintiffs alleged that the defendants solicited them to invest in a Veruus-managed foreign exchange trading account and that they were the victim of civil theft and conversion. The judgment order entered by the Court found Veruus liable for civil theft and conversion of $339,517.79 in customer funds.

CFTC Division of Enforcement staff members responsible for this action are Susan B. Padove, Elizabeth M. Streit, Joy McCormack, Scott R. Williamson, Rosemary Hollinger, and Richard B. Wagner.

Last Updated: August 21, 2013