The U.S. Commodity Futures Trading Commission (CFTC) filed a civil injunctive enforcement action in the U.S. District Court for the Southern District of Florida against Florida-based Defendants KB Concepts Group, LLC d/b/a Apex Asset Advisors, LLC(Apex) and Kelvin Burgos, Apex’s president, controlling person, and managing member responsible for its day-to-day operations. The CFTC’s Complaint charges the Defendants with engaging in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis. The Complaint further alleges that Burgos, as controlling person for Apex, is liable for Apex’s violations of the Commodity Exchange Act (CEA).
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