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For Immediate Release
July 06, 2000
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NFA bars American Financial Group Services, Inc. and Leader Trading Group
July 6, Chicago - NFA permanently barred American Financial Group Services for allegedly making deceptive and misleading sales solicitations to customers which downplayed the speculative nature and exaggerated the profit potential of futures and options trading. AFGS was also alleged to have encouraged customers to provide false information on their account opening documents. AFGS is a former introducing broker NFA Member located in Jupiter, Florida. AFGS submitted a settlement offer in which it neither admitted nor denied the allegations in the Complaint.
In another Decision, NFA ordered Leader Trading Group to permanently withdraw from NFA membership. Leader is an introducing broker NFA Member located in Chicago, Illinois. The Complaint issued by NFA's Business Conduct Committee alleged that Leader failed to disclose that Gary A. Bogo, who at the time was suspended from NFA pursuant to a settlement from a prior disciplinary action, was acting as a principal of Leader. Leader neither admitted nor denied the allegations in the Complaint.
NFA is a congressionally authorized self-regulatory organization for the U.S. futures industry.