Francesc Riverola,
Federal Court Orders Forex Dealer One World Capital Group and Its President, John “Jack” Edward Walsh, to Pay $520,000 in Sanctions
Order also permanently bars defendants from the futures industry and revokes One World’s registrations.
Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained an order against defendants One World Capital Group, LLC of Winnetka, Ill. and John Edward Walsh, of Lake Forest, Ill., requiring each to pay a $260,000 civil monetary penalty for failing to demonstrate compliance with CFTC net capital requirements. (CFTC v. One World Capital Group, LLC, et al., N.D. Ill., Case No. 07CV 7002).
The Honorable Joan H. Lefkow of the United States District Court for the Northern District of Illinois entered the consent order of permanent injunction on February 25, 2010. The order resolves a complaint brought by the CFTC on December 13, 2007 (CFTC v. One World Capital Group, LLC, and John Edward Walsh, Civil Action No. 07 CV 7002 (N.D. Ill. filed Dec. 13, 20070, and CFTC Press Release 5424-07, December 18, 2007). The complaint charged One World, a registered futures commission merchant and forex dealer member, and its president Walsh, with inability to demonstrate compliance with capitalization requirements and with failure to maintain required books and records as required by federal commodity laws.