# CFTC CHARGES FLORIDA OPTIONS FIRM FIRST AMERICAN INVESTMENT SERVICES, INC., WITH DEFRAUDING CUSTOMERS OF OVER $12 MILLION; First American President Steve Knowles and Employees Michael Savitsky, Adam Mills, Greg Allotta, and James Eulo Allegedly Lied When Pitching Commodity Options to Customers

> CFTC release 4943-04 · 2004-06-21 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 4943-04
- **Release date:** 2004-06-21
- **Type:** Other enforcement
- **Title:** CFTC CHARGES FLORIDA OPTIONS FIRM FIRST AMERICAN INVESTMENT SERVICES, INC., WITH DEFRAUDING CUSTOMERS OF OVER $12 MILLION; First American President Steve Knowles and Employees Michael Savitsky, Adam Mills, Greg Allotta, and James Eulo Allegedly Lied When Pitching Commodity Options to Customers
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4943-04

## 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 4943-04, "CFTC CHARGES FLORIDA OPTIONS FIRM FIRST AMERICAN INVESTMENT SERVICES, INC., WITH DEFRAUDING CUSTOMERS OF OVER $12 MILLION; First American President Steve Knowles and Employees Michael Savitsky, Adam Mills, Greg Allotta, and James Eulo Allegedly Lied When Pitching Commodity Options to Customers", 2004-06-21. Retrieved via AI Analytics 2026-05-25 from https://api.ai-analytics.org/cftc-action/4943-04.

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