03 Aug 23

Committing A Crime In The Commodities Exchanges

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Last Updated on: 4th August 2023, 01:08 am

People frequently think that those who commit white collar crimes are not really doing anybody any harm. They make this wrong assumption because they don’t make the connection between someone doing something in a financial transaction and other parties getting harmed by that at the other end of the transaction. It is difficult to see the linkage, but it really is there.

What Are Commodities Charges?

Simply put, a commodities crime charge is when someone attempts to buy or sell a commodity through illegal means. This may mean that they have obtained the commodity through theft or deception. It may also mean that they are attempting to sell the commodity outside of the normal functions of the marketplace. One final situation may be when an individual attempts to sell a commodity with insider information that they ought not be in possession of.

A commodities crime is a very serious offense with potentially life-altering penalties attached to it. It is certainly something to take incredibly seriously.

Who Charges A Person With A Commodities Charge?

This type of crime is not as easy to identify as some others. After all, you don’t see a person running away from the scene of the crime or anything like that. It is such a complex crime that it can months or even years to charge one individual with a single offense.

A great deal of investigation goes into every commodities charge that is brought before any court in the land. The group that is tasked with doing these investigations is a governmental organization known as the CFTC. This stands for the commodities and futures trading commission. They get to decide who gets charged and who doesn’t per the way that the laws are written.

The CFTC conducts routine audits as well of anyone who engages in the commodities and futures markets. This means that someone who is currently under investigation by the CFTC may not have actually done anything wrong at all. However, the group has to take all necessary steps to make sure they investigate all potential issues to make sure everyone is operating with the same information.

What Kind Of Penalties Can A Person Face?

These charges are no joke, and someone who is convicted of a commodities trading charge may find themselves facing both criminal and civil charges as well. It is something that could cause them to lose their regulatory licenses to trade commodities and futures going forward. That is why so many get so jumpy when the subject matter comes up in the first place. They know how much is at stake when they are being investigated.

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It is recommended that anyone who is being looked at or even charged with a commodities trading crime get an attorney who specializes in this area as quickly as possible. It doesn’t matter that you don’t think that you have done anything wrong. The most important thing is to get an advocate who can make that case forcefully for you. Such a person has the training and experience necessary to make your case.

Defending oneself in a complex case like this is no simple matter. These kinds of things are best left to the professionals.

Reputation Concerns

You are right to think of yourself and your reputation when so much is on the line like this. You never know what it might look like if you are convicted of a serious commodities charge, but you know that it is not going to look very good. You can prevent this from taking place to being with by getting a capable attorney who can defend you.

The press surrounding the case can say whatever they like about you, but you have every right to defend yourself and to put up a case for why you did not commit the crimes that you are charged with. It is entirely possible that regulators simply got things wrong in your case. They can get overly zealous at times and end up charging people who did not deserve it. Perhaps that is what happened in your case. If so, then you need to get out of this jam as quickly as humanly possible.