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First Commodity Corp Of Boston

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BUSINESS
January 18, 1989 | From Associated Press
Federal charges were announced Tuesday against 18 former employees of First Commodity Corp. of Boston, alleging that they defrauded more than 2,600 investors of about $40 million. The charges stem from an ongoing investigation in Chicago, Boston, New York, Miami and San Francisco--the largest single investigation of its kind ever undertaken by federal officials, U.S. Atty. Anton Valukas said at a news conference.
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BUSINESS
January 18, 1989 | From Associated Press
Federal charges were announced Tuesday against 18 former employees of First Commodity Corp. of Boston, alleging that they defrauded more than 2,600 investors of about $40 million. The charges stem from an ongoing investigation in Chicago, Boston, New York, Miami and San Francisco--the largest single investigation of its kind ever undertaken by federal officials, U.S. Atty. Anton Valukas said at a news conference.
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BUSINESS
August 25, 1986
The large retail futures broker has been expelled from the MidAmerica Commodity Exchange and fined a record $3.58 million for alleged fraudulent practices and other violations of exchange rules. MidAmerica, an affiliate of the Chicago Board of Trade, reaffirmed an earlier decision to expel First Commodity Corp. of Boston and then imposed the fine, the largest ever levied by a U.S. futures or securities exchange. The company said it will appeal.
BUSINESS
October 18, 1998
Dan Brown has been appointed corporate vice president of product development for MTI Technology Corp. in Anaheim. Prior to joining MTI, Brown was senior vice president of engineering at Storage Concepts in Irvine, and vice president and managing director for the I/O product division at Western Digital in Irvine. Lee Bridges has been appointed to the newly created position of vice president of key accounts for Superior Business Network in Newport Beach.
BUSINESS
February 25, 1986 | MICHAEL A. HILTZIK, Times Staff Writer
Federal commodities regulators charged a major futures firm Monday with building its $30-million-a-year business atop a pattern of fraudulent claims and misleading promises made to customers solicited over the telephone. In a six-count administrative complaint, the Commodity Futures Trading Commission charged First Commodity Corp.
NEWS
January 21, 1989 | BILL SING, Times Staff Writer
The wild world of commodity futures trading has had a sullied reputation among consumers and lawmakers for decades, in part because of cases like Robert Hocker's. Hocker told a federal court in Wyoming that he didn't even know what a commodity was when a broker for First Commodity Corp. of Boston phoned him in 1983, when he was unemployed as an oil field worker.
BUSINESS
January 20, 1989 | CARLA LAZZARESCHI and BILL SING, Times Staff Writers
What is a futures contract? What is a futures margin account? What is hedging? If you don't know the answers to these questions, you are not alone. Futures markets are among the most important--but least understood--facets of our economy. And attention to them has increased sharply in the wake of revelations that federal investigators have uncovered massive fraud among brokers at the Chicago Board of Trade and the Chicago Mercantile Exchange, two of the nation's biggest futures exchanges.
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