CFTC Accuses Former Merc Chief: A former...
From Times Staff and Wire Reports
CFTC Accuses Former Merc Chief: A former Chicago Mercantile Exchange chairman failed to stop two employees of his trading firm from systematically defrauding customers, a Commodity Futures Trading Commission attorney said. Brian Monieson, head of GNP Commodities Inc., “refused to see what everyone else could see, and that was that his customers were being robbed,” CFTC attorney Patricia Donahue said in opening statements at an administrative proceeding against Monieson and the others. But Monieson’s attorney, Jerrold Salzman, said CFTC’s case is flawed, based on “conjecture, speculation” and unreliable evidence.
