Commodity Futures Trading Commission v. American Commodity Group Corp., Willa M. Ott

PROCEDURAL BACKGROUND AND FACTS

On February 25, 1982, the Commodity Futures Trading Commission (“CFTC”), an independent federal regulatory agency, sued various corporate and individual defendants (“defendants”) for violations of the Commodities Exchange Act, as amended,. 7 U.S.C.A. § 1 ei seq. Commodities Futures Trading Commission v. American Commodity Group Corp., et al., C.A. No. 82-6108 (S.D.Fla. filed Feb. 25, 1982). Defendants were in the business of selling futures contracts for the purchase of silver, gold, platinum, and copper in the form of bullion and coins. David L. Bentley, one of…