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For Immediate Release
June 26, 2001

For more information contact:
Larry Dyekman
(312) 781-1372 or
Jennifer Bucko
(312) 781-1373


June 26, 2001 - NFA permanently barred David G. Johnson (NFA ID #227714), an introducing broker NFA Member in Marion, Indiana, from NFA membership in a settlement of an NFA disciplinary case. Without admitting or denying the allegations in the Complaint, Johnson agreed to findings that he cheated, defrauded or deceived commodity futures customers, transacted commodity futures-related business with non-NFA Members, and failed to cooperate in an NFA investigation.

The Complaint issued against Johnson alleged that evidence recovered during an audit in June 2000, led to the discovery of a Ponzi scheme which was principally operated by a non-NFA Member named Phillip L. Ferguson of Marion. It alleged further that the scheme was executed through the collection of almost $30 million from investors for an enterprise called First Investors Group which was represented to be a commodity pool, but which in reality was a sham, existing only to facilitate the theft of customer funds. Ferguson fled Marion following NFA's discovery and a warrant has been issued for his arrest.

Johnson had an office in the same Marion suite as Ferguson. NFA's Complaint alleged that he was heavily involved in Ferguson and FIG's business operations and, among other things, solicited investors, did administrative work and received substantial compensation for his work on their behalf.

NFA is a congressionally authorized self-regulatory organization for the U.S. futures industry.

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