CFTC charges former CBOE director over $6.9 million fraud

The US derivatives watchdog also charges Wilkinson with misappropriation and providing false statements.

The Commodity Futures Trading Commission (CFTC) has charged Alvin Guy Wilkinson, a former director at the Chicago Board Options Exchange (CBOE) with fraud and misappropriation.

The CFTC alleges Wilkinson fraudulently solicited almost $7 million from at least 30 investors from July 1999, claiming that he would trade a portfolio of financial instruments, including futures contracts, using a volatility strategy.

However, he allegedly misappropriated at least $5.2 million or participants’ funds.

The complaint also charges Wilkinson with providing false statements and documentation to the National Futures Association (NFA) during a NFA investigation.

Wilkinson served as a director of CBOE holdings from 2001 to 2004.

«