Blumenfeld, et al. v. Refco

NFA Arbitration No. 96-186

Testifying expert for Claimant. Award in favor of Claimants: $43 million.As part of a $100 million Ponzi scheme by an Introducing Broker (IB) the wrongful allocation of Treasury futures and options transactions on the Chicago Board of Trade (CBOT) by a Futures Commission Merchant (FCM) across Claimants’ accounts, Claimants asserted fraud, breach of contract and good faith, failure to supervise floor trading and post-transaction clearance by back office personnel in violation of industry and exchange rules.