| UNIVERSAL COMMODITY CORPORATION |
NFA ID: 0244735 |
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An NFA Arbitration claim is a futures or forex related dispute involving a customer and an NFA Member (or employee) or Associate. It is not a regulatory action.
NFA only discloses information concerning arbitration cases that have been decided by an arbitration panel.
NFA does not release the names of parties who have settled their parts in the cases. Furthermore, NFA does not
report or release information on cases that closed before January 1, 1990, cases that are still pending, or
cases that were settled, withdrawn or rejected. Therefore, the number of NFA Arbitration Decisions reflects
the total number of claims filed in NFA Arbitration that were decided by an arbitration panel. These decisions
may have been decided in favor of the Claimant or Respondent.
Effective January 1, 2000, NFA discloses the names of persons who represent parties in NFA customer arbitration
proceedings if the matters were decided by an arbitration panel. As of the same date, customers may no longer ask
NFA to keep their identities confidential.
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| 96ARB00101 | 06/17/1996 | 01/22/1998 | Options (Domestic Exchange) |
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| • GEORGE SAJENKO | • DENNIS BABIAN
• JOHN THOMAS CIARAMELLA
• LARRY S FREEDBERG
• LARRY ALAN KAHN
• JEFFREY TODD MIOT
• ANDREW N STERN
• UNIVERSAL COMMODITY CORPORATION | • LINDA CAROL FRAZIER
• HOWARD STEIN |
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| NON-MEMBER | 3 | HEARING | CHICAGO, IL |
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| $82,171.60 | $82,171.60 | | $0.00 | $0.00 | | $246,514.80 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $4,087.50 |
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| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| | | I. CAUSES OF ACTION
1. FRAUD 2. ACTION FOR CIVIL DAMAGES UNDER THE RICO ACT 3. CHURNING 4. BREACH OF FIDUCIARY DUTY 5. FAILURE TO SUPERVISE 6. CLAIM AGAINST UCC AS EMPLOYER 7. CLAIM AGAINST RESPONDENTS FOR PUNITIVE DAMAGES AND ATTORNEY
II. RESPONDENTS' DEFENSES
1. RATIFICATION 2. FAILURE TO MITIGATE 3. NON-DISCRETIONARY ACCOUNT 4. CLAIMANT UNDERSTOOD RISKS 5. NO COGNIZABLE CLAIM FOR RICO 6. NO MISREPRESENTATIONS
RESPONDENTS UNIVERSAL COMMODITY CORPORATION, DENNIS BABIAN, JOHN CIARAMELLA, LARRY FREEDBERG, LARRY KAHN, JEFFREY MIOT AND ANDREW STERN, JOINTLY AND SEVERALLY LIABLE, SHALL PAY TO CUSTOMER CLAIMANT $82,171.60 IN COMPENSATORY DAMAGES AND $4,087.50 IN COSTS FOR A TOTAL OF $86,259.10. EACH PARTY SHALL BEAR ITS OWN ATTORNEY'S FEES. | | | | |
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