CFTC Wins Over $2 Million in Restitution for Victims of SimTradePro

The Commodity Futures Trading Commission (CFTC) has secured a consent order requiring Robert L. Adams and his Oregon-based company, SimTradePro Incorporated, to pay more than $2 million in restitution later than defrauding customers through multiple commodity pools. According to the U.S. District Court for the District of Oregon, the defendants solicited more than $2.3 million from at least 100 customers—many nearing retirement—under the guise of trading leveraged foreign platform (FX) and leveraged precious metals such as gold and silver.

The court found that Adams and SimTradePro systematically misrepresented the nature and costs of their services. They falsely claimed they only earned fees when customers made profits, concealed significant trading losses, and provided misleading information about the pools’ performance. The court also ruled that SimTradePro unlawfully operated as a commodity pool operator (CPO) and (CTA) without proper registration.

The consent order permanently bans Adams and SimTradePro from registering with the CFTC or participating in trading activities subject to CFTC oversight. The order resolves the enforcement action initially filed on September 30, 2024, and reflects the agency’s efforts to protect vulnerable investors from deceitful commodity pool schemes.

Takeaway

How Were Investors Harmed, and What Did the Court Order as a Remedy?

Investors—many of whom were preparing for retirement—were told their funds would be professionally markets. Instead, the defendants concealed negative performance and extracted fees under false pretenses. The fraud left customers with substantial losses and no transparency into how their money was being handled.

The court ordered Adams and SimTradePro to pay $2,072,986 in restitution to the victims, representing the amount lost due to the defendants’ deceptive practices. Additionally, the order imposes a permanent ban on trading, registration, and further violations of the Commodity platform Act and CFTC regulations. While restitution is intended to compensate victims, the CFTC cautions that successful judgments do not guarantee full recovery if defendants lack sufficient assets.

This civil judgment follows a parallel criminal case in which Adams was sentenced to 2.5 years in federal prison on August 12 for the identical misconduct. He was also ordered to pay restitution in the criminal proceeding. The combined civil and criminal actions highlight the seriousness of Adams’ fraudulent conduct and the coordinated efforts of regulators and prosecutors to hold him accountable.

Takeaway

What Broader Lessons Does This Case Offer About Commodity Pool Risks and CFTC Enforcement?

The case underscores how fraudulent commodity pool operators often target individuals with limited markets. By promising professional management, profit-aligned fees, or specialized strategies, fraudulent actors exploit trust while obscuring losses and regulatory violations. This highlights the importance of verifying a firm’s registration with the CFTC before investing in commodity trading programs.

The CFTC emphasized that recovery of restitution depends on the wrongdoers’ available assets, but added that it will continue to aggressively pursue fraud cases to deter misconduct and protect market participants. The agency credited assistance from international and domestic regulators—including the FCA, ASIC, the , and Oregon’s Division of Financial Regulation—demonstrating the global reach of commodity fraud investigations.

The enforcement success also reinforces the CFTC’s commitment to monitoring commodity pools, especially those involved in leveraged FX and precious metals, which frequently attract unscrupulous operators. By combining civil sanctions with criminal prosecution, regulators signal a strong stance against financial schemes that jeopardize investor savings and undermine market integrity.

Takeaway