Judge G. Ross Anderson of the U.S. District Court for the District of South Carolina has entered an emergency Order freezing and preserving the remaining pool participant assets under the control of defendant Robert Stanley Harrison of Easley. The Order also prohibits Harrison from destroying books and records and grants The U.S. Commodity Futures Trading Commission (CFTC) immediate access to those records.
The Order arises out of civil enforcement Complaint filed under seal by the CFTC on February 6, charging Harrison with fraudulently soliciting funds from members of the public to invest in the Investors Choice Advisors LLC commodity pool from at least June 2011 to the present.
According to the CFTC Complaint, Harrison guaranteed pool participants’ principal investment against risk of loss and further guaranteed 100 percent profits on those investments within 60 or 90 days. The Complaint further alleges that Harrison and his agent issued false investment contracts to pool participants that represented the purported profits.
According to the Complaint, Harrison also allegedly misappropriated some pool participant funds, improperly operated the commodity pool, and failed to register himself as a Commodity Pool Operator and his agent as an Associated Person with the CFTC.
In the continuing litigation, the CFTC seeks a permanent injunction from future violations of federal commodities laws, permanent registration and trading bans, restitution to defrauded pool participants, disgorgement of ill-gotten gains, and civil monetary penalties.
The CFTC appreciates the assistance of the South Carolina Attorney General’s Office, the U.S. Attorneys’ Office, and the U.S. Marshals Service in this matter.
CFTC Division of Enforcement staff members responsible for this case are Amanda Harding, Daniel Jordan, Michael Loconte, Erica Bodin, Rick Glaser, and Richard Wagner.