# TEXAS COMMODITY TRADER AND FIRM CHARGED WITH DEFRAUDING CUSTOMERS OF APPROXIMATELY $1 MILLION; CFTC Charges Richard A. Hale and Allegheny Gulf Investments, Inc., with Misuse of Investor Funds

> CFTC release 4850-03 · 2003-10-07 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 4850-03
- **Release date:** 2003-10-07
- **Type:** Other enforcement
- **Title:** TEXAS COMMODITY TRADER AND FIRM CHARGED WITH DEFRAUDING CUSTOMERS OF APPROXIMATELY $1 MILLION; CFTC Charges Richard A. Hale and Allegheny Gulf Investments, Inc., with Misuse of Investor Funds
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4850-03

## 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 4850-03, "TEXAS COMMODITY TRADER AND FIRM CHARGED WITH DEFRAUDING CUSTOMERS OF APPROXIMATELY $1 MILLION; CFTC Charges Richard A. Hale and Allegheny Gulf Investments, Inc., with Misuse of Investor Funds", 2003-10-07. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/cftc-action/4850-03.

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