CFTC Dismisses Fraud Charges Against David Cartu and Joshua Cartu In $165 Million Trading Scheme.

CFTC dismissed charges against David Cart und Joshua Cartu
Spread financial intelligence

The U.S. Commodity Futures Trading Commission (CFTC) has dropped civil charges against David Cartu and Joshua Cartu. The case remains outstanding against their brother, Jonathan Cartu, who the CFTC claims was the ultimate owner and control person of the $165-million binary options trading scheme. The CFTC claimed that the Cartu Brothers ran a binary options scheme that defrauded investors in the United States and Canada.

CFTC dismissed fraud charges against David Cartu and Jonathan Cartu

David Cartu and Joshua Cartu have not served answers or motions for summary judgment. Therefore, the CFTC’s notice is “self-effectuating and terminates the case in and of itself; no order or other action of the district court is required.

The dismissal of the charges is contained in a notice that the CFTC filed in federal court in Texas on Friday, March 3. The CFTC has not stated its reasons for dropping the charges, but the three brothers previously complained that the regulator had not provided any particulars of how they defrauded investors. The Cartu Brothers said that the CFTC failed to identify a single specific transaction or customer that was a victim, the brothers contended.

Share Information

If you have any information about the Cartu Brothers and their schemes, please let us know through our whistleblower system, Whistle42.

  1. Spell checker says:

    You might want to look at the diagram and re-read your article. You seem to be a bit confused as to whether it’s Joshua (or Joshua in your title) or Jonathan who was dismissed.

Leave a Reply

Your email address will not be published. Required fields are marked *