Andrew L. Carter, a Judge of the Southern District Court of New York, has recently signed an order. This order is against Brett G. Hartshorn, mandating a permanent injunction and other forms of equitable relief against him. This comes from a lawsuit he’s had with the US Commodity Futures Trading Commission or CFTC. Thus, the Court has now approved the proposed consent order that both parties had filed earlier in May of this year.
The Settlement In Question
The order itself was signed on the 22nd of May, 2020. It stipulates that the defendant is mandated to pay restitution valued at $890,000. Furthermore, Hartshorn has been prohibited from acting as an unregistered CTA, as well as entering into any form of transactions that involve commodity interests.
He himself has been further banned from having any form of commodity interest trading on his behalf, as well as being barred from registering with the CFTC and prohibited from acting as an employee of an entity registered by the regulator. Alongside this, Hartshorn has been permanently restrained, enjoined, and otherwise prohibited from defrauding any other person.
The Original Sins
Earlier, the CFTC had discovered that Hartshorn had fraudulently solicited 13 individuals, having done so through the time period of the 18th of June, 2008, to around the year of 2014. This includes members of his church, as well as individuals he had met within his local community. Hartshorn had convinced them to invest within an off-exchange foreign currency through a margined, leveraged or financed basis, and was convinced to give Hartshorn discretionary authority to trade forex on these people’s behalf.
As one would imagine, Hartshorn has been accused of fraud in regard to retail Forex transactions. Further charges include the failure to comply with CTA requirements, as well as not even registering as a CTA, to begin with
Certain Kinds Use Certain Measures
The biggest insult to these injuries is how Hartshorn, seeing no way out, tried to resort to emotional pleas within a Court case. He gave many colorful statements and claims, alleging that he is “lost” and that if he were released, he would strive to make a positive difference in this world.
For people like Hartshorn, it needs to be kept in mind that this man didn’t scam vague strangers out of their money, as many people do. No, he went into his own church and community, tricking the people that he had known personally into this scam. There’s a certain type of person that’s capable of doing that, and that person feels no remorse for their actions. Instead, they’d very quickly play the emotions card, due to how often they use it to get their way.