Case Summary

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Davis was ordered to pay $1,000 in restitution to a customer and provide NFA with satisfactory evidence that the amount was paid. Davis was also ordered to tape record, for six months, all conversation that occur between herself and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes available to NFA upon request. Only periods of time when she is registered and actively soliciting customers, on a full-time basis, will be counted.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Diaz was permanently barred from NFA membership and associate membership and from acting as a principal of an NFA Member.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Eulo was permanently barred from NFA membership and associate membership and from acting as a principal of an NFA Member.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, FutureTech was ordered to withdraw from NFA membership and not reapply for NFA membership or act as a principal of an NFA Member for two years. If, after expiration of the two-year membership bar, it again becomes an NFA Member or a principal of an NFA Member, FutureTech was ordered to pay a $50,000 fine. If FutureTech again becomes an NFA Member, it was ordered to cause all of its APs to tape record, for six months, all conversations that occur between them and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes avialable to NFA upon request. Only periods of time when FutureTech and its APs are actively soliciting customers will be counted.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Jalil was suspended from NFA membership and associate membership for six months. During the period of suspension, Jalil may not act in any capacity requiring registration, nor act as a principal of an NFA Member. If, after expiration of the six-month suspension, he again becomes an NFA Member or Associate, or a principal of an NFA Member, Jalil was ordered to pay a $25,000 fine.

In the event that Jalil again becomes an NFA Member or Associate, he was ordered to tape record, for six months, all conversations that occur between himself and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month taping requirement begins on the date that Jalil again becomes an NFA Member or Associate and continue therafter for six months. Only periods of time when Jalil is registered and actively soliciting customers, on a full-time basis, will be counted.

Should Jalil become a principal of an NFA Member, he shall cause all APs of that firm - and any other firm of which he is a principal - to tape record, for six months, all conversations that occur between them and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month taping requirement applies to each and every firm of which Jalil becomes a principal and begins on the date he becomes a principal of each firm, respectively. Only periods of time when Jalil is a principal of that particular firm and that firm is actively soliciting customers will be counted. In any and all events, the taping requirmeents expire on October 31, 2008.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Loiacono was suspended from NFA membership and associate membership for one year. During the suspension, Loiacono shall not act in any capacity requiring registration, nor act as a principal of an NFA Member.

If, after expiration of the one-year suspension, Loiacono again becomes an NFA Member or Associate, he must pay a $7,500 fine.

If, after expiration of the one-year suspension, Loiacono again becomes an NFA Member or Associate, he must tape record, for six months, all conversations that occur between himself and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month taping requirement begins on the date Loiacono again becomes an NFA Member or Associate and will continue thereafter for six months. Only periods of time when Loiacono is registered and actively soliciting customers, on a full-time basis, will be counted.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Mills was permanently barred from NFA membership and associate membership and from acting as a principal of an NFA Member.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Sala was ordered not to apply for NFA membership or associate membership or act as a principal of an NFA Member for six months. During six-month membership bar, Sala shall not act in any capacity requiring registration, nor act as a principal of an NFA Member.

If, after expiration of the six-month membership bar, Sala is granted NFA membership or associate membership, or becomes a principal of an NFA Member, he must pay a $5,000 fine.

If Sala becomes an NFA Member or Associate, he must tape record, for six months, all conversations that occur between himself and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month taping requirement begins on date Sala becomes an NFA Member or Associate and will continue thereafter for six months. Only periods of time when Sala is registered and actively soliciting customers, on a full-time basis, will be counted.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On October 17, 2006, Shore was suspended from NFA membership and associate membership for thirty days. During the suspension, Shore shall not act in any capacity requiring registration, nor act as a principal of an NFA Member.

If, after expiration of the thirty-day suspension, Shore again becomes an NFA Member or Associate, he must pay a $5,000.

If, after expiration of the thirty-day suspension, Shore again becomes an NFA Member or Associate, he must tape record, for three months, all conversations that occur between himself and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes available to NFA upon request. The three-month taping requirement begins on the date that Shore again becomes an NFA Member or Associate and will continue thereafter for three months. Only periods of time when Shore is registered and actively soliciting customers, on a full-time basis, will be counted.

COMPLAINT -

On July 21, 2005, NFA issued a Complaint charging FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis with making deceptive and misleading sales solicitations. The Complaint also charged FutureTech and Jalil with making high-pressure sales solicitations and failing to diligently supervise employees and agents in the conduct of their commodity futures activities. The Complaint charged FutureTech with allowing an AP to solicit customers when he had no registration or NFA membership status; failing to prepare monthly net capital computations on a timely basis, failing to prepare and maintain current ledgers or other similar records, failing to file telegraphic notice of its failure to maintain current books and records, and failing to maintain adequate records.

ANSWER -

On October 13, 2005, FutureTech, Jalil, Eulo, Diaz, Shore, Summers, Loiacono, Mills, Sala and Davis filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION -

On November 2, 2006, the charges against Summers were dismissed without prejudice and with leave for NFA to reinstate.