Posted 4 weeks ago
By Associated Press
U.S. District Judge Laurie Smith Camp imposed the penalties against Elite Management Holdings, MJM Enterprises and two individuals who ran them: Michael Kratville and Jonathan Arrington.
The penalties are part of a 2011 lawsuit filed by the federal Commodity Futures Trading Commission.
The commission says investors lost $3 million in participants’ funds and more than $1.5 million in investments was misappropriate. The companies involved closed in 2007.
Kratville and Arrington are both facing federal criminal charges related to the case.