Seven Accused of Customer Fraud at COMEX:...

Seven Accused of Customer Fraud at COMEX: The Commodity Futures Trading Commission, in an eight-count administrative complaint, accused seven individuals, including a former vice chairman of the Commodity Exchange, and two firms of fraudulent activity in more than 200 transactions between September, 1986, and December, 1988, at the New York-based metals exchange. The action stems from a CFTC investigation at New York’s commodities futures pits that was first disclosed in May, 1989. Charges against the defendants range from altering records and changing price data to non-competitive trading, which allegedly cost customers $190,000 in losses.