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1
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COMPLAINT
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EXTRACTED KEY WORDS
ELLIOTT COMMISSION ACT TRADING SYSTEM RESPONDENT REGULATION VIOLATION ADVERTISEMENTS COMMODITY PURSUANT PROFITS FUTURES RELEVANT TIME CUSTOMERS ALLEGATIONS MISREPRESENTATIONS TRADES FRAUDULENT ALLEGES PROCEEDING WEBSITE REPRESENTATIONS E-MINI CONTRACTS QUANTUMLEVEL TRADING SYSTEM ACCOMPANIMENT INTERNET PURCHASE COMPLAINT TRANSACTION |
UNITED STATES OF AMERICA
Before the
COMMODITY FUTURES TRADING COMMISSION
In the Matter of CFTC Docket No. 03-07
Gregory W. Elliott, COMPLAINT AND
individually and
d/b/a Soffrade, Inc. and . SECTIONS 6(c), 6(d) AND 8$%)
Sof?adeinc.com, OF THE COMMODITY
Respondent. .
I.
The Commodity Futures Trading Commission ("Commission") has received
from its staff that tends to show, and the Commission's Division of Enforcement
alleges, that:
SUMMARY
1. From on or about March 2001 to September 2002 (the "relevant time
Gregory W. Elliott ("Elliott"), individually and d/b/a SofTrade, Inc. and
("So&adeinc.com"), an unregistered commodity trading advisor ("CT,,`), used
fraudulent advertising to solicit customers to purchase a commodity futures trading
the Internet. He fraudulently touted substantial profits from using his system and
mischaracterized the performance record of the system as being based on actual trades,
was actually based on simulated or hypothetical trades. Thus, Elliott violated Sections
and 4~( l)(B) of the Commodity Exchange Act, as amended ("Act"), 7 U.S.C. $5 69(l)(A) and
6~( l)(B) (2000), and Commission Regulation 4.41 (a)( 1) and 4.41 (a)(2), 17 C.F.R. 5 4.41
(2001).
SNIPPETS:
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