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August 05, 2020
NFA orders Gautam Prakash, a former associated person, to not reapply for membership for seven years
August 5, Chicago—NFA has ordered Gautam Prakash to not reapply for membership or principal status with any NFA Member for seven years. Prakash was a principal and associated person of former Bethesda, Md. NFA Member commodity trading advisor and commodity pool operator Monsoon Capital LLC (Monsoon). NFA also ordered Monsoon to not reapply for membership or apply for principal status with any NFA Member for two years.
The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and a settlement offer submitted by Monsoon and Prakash. The Complaint alleged that Monsoon and Prakash submitted false and inflated reimbursement requests for travel expenses and improperly used pool assets for a personal securities transaction. The Complaint also alleged that Monsoon arranged a $1 million loan from its pools to itself, which proceeds were then transferred to Prakash's personal bank account for a personal securities transaction.
NFA thanks the U.S. Securities and Exchange Commission for its assistance in this matter.