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January 19, 2001
NFA PERMANENTLY BARS MICHIGAN INTRODUCING BROKER
January 19, Chicago - NFA permanently barred Wins World Trade, Inc. (NFA ID #282081), an introducing broker in Waterford, Michigan, from NFA membership in settlement of an NFA disciplinary case. Wins World was found to have lied to NFA's Registration Department by filing false registration forms that failed to disclose that Duane Lamiman, who was unfit for registration due to his criminal history, was a principal and co-owner of the firm. Wins World and its president, Gary Nelson Thompson (NFA ID #183373), were also found to have aided and abetted Lamiman in acting as an undisclosed principal and to have violated high standards of commercial honor and just and equitable principles of trading by failing to terminate Lamiman as a principal after representing to NFA's Registration Department that they had done so. As part of the settlement, Thompson agreed to pay a $2,500 fine and refrain from acting as a principal or branch office manager of any NFA Member for three years. Wins World and Thompson neither admitted nor denied the charges.
NFA is a congressionally authorized self-regulatory organization for the U.S. futures industry.