CFTC Charges Suspended Broker With Defrauding Investors

A suspended broker in California has charged with fraud after misrepresenting himeself to customers and mishandling at least $194,000 in investments. Thomas Gillons was charged with soliciting money from at least three customers to whom he had portrayed himself as a licensed broker, the Commodities Futures Trading Commission said Tuesday. Gillons only traded a portion of funds, but he lost $55,234 and allegedly kept the rest of the money.