# U.S. COMMODITY FUTURES TRADING COMMISSION FINES NYMEX FLOOR BROKER FOR UNLAWFULLY TRADING CRUDE OIL FUTURES CONTRACTS; Michael Garber Settles Charges that He Engaged in Wash Sales, Reported Non-Bona Fide Prices, and Executed Non-competitive Trades; CFTC Also Files Charges Against NYMEX Floor Broker Robert Benjamin Harmon, Jr.

> CFTC release 4837-03 · 2003-09-09 · **Settlement** · ENFORCEMENT

## Key facts

- **Release number:** 4837-03
- **Release date:** 2003-09-09
- **Type:** Settlement
- **Title:** U.S. COMMODITY FUTURES TRADING COMMISSION FINES NYMEX FLOOR BROKER FOR UNLAWFULLY TRADING CRUDE OIL FUTURES CONTRACTS; Michael Garber Settles Charges that He Engaged in Wash Sales, Reported Non-Bona Fide Prices, and Executed Non-competitive Trades; CFTC Also Files Charges Against NYMEX Floor Broker Robert Benjamin Harmon, Jr.
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4837-03

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 4837-03, "U.S. COMMODITY FUTURES TRADING COMMISSION FINES NYMEX FLOOR BROKER FOR UNLAWFULLY TRADING CRUDE OIL FUTURES CONTRACTS; Michael Garber Settles Charges that He Engaged in Wash Sales, Reported Non-Bona Fide Prices, and Executed Non-competitive Trades; CFTC Also Files Charges Against NYMEX Floor Broker Robert Benjamin Harmon, Jr.", 2003-09-09. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/4837-03.

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