CFTC Charges California Residents Frank J. Collins And Gerard Suite And Their Company, STA Opus NR LLC, With Fraud, Misappropriation, And Failing To Register With The CFTC - CFTC Alleges Defendants Fraudulently Solicited At Least $1.6 Million, While Misappropriating At Least $1.25 Million Of Customer Funds

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court, Central District of California, charging Defendants Frank J. Collins of Garden Grove, California, and Gerard Suite of Irvine California (who is known by numerous aliases, including Rawle Gerard Suite, Jerry Suite, and Jerry Snead), and their Delaware limited liability company, STA Opus NR LLC (STA Opus), with fraudulently soliciting at least $1.6 million from at least 30 customers to operate a commodity pool and misappropriating approximately $1.25 million of customers’ funds for their own benefit.