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McLeod's recently published book covers these issues in more detail. It was published in the last week of October. The ebook version is available immediately and the print version takes two days to ship from Amazon.com.  The second week of November 2019, is the one-year anniversary of when OptionSellers went under.

Mike McLeod

WASHINGTON, Oct. 15, 2019 /PRNewswire/ -- In this book Mike McLeod, who is America's most experienced lawyer in Agriculture and Derivatives Law, takes us through the numerous financial scandals that have happened since the attacks on America on Sept. 11, 2001.

As referenced in his website www.mcleodaglaw.com, this latest scandal was especially grievous to McLeod for two reasons. First, as a young General Counsel and Staff Director of the Senate Agriculture Committee, he drafted the law that created the Commodity Futures Trading Commission in 1974. He later began his private law practice representing futures trading clients.

Recently, he lost a large amount of his life savings when OptionSellers went down in the second week of November 2018.

If this matter had been under the jurisdiction of the SEC, someone would already be in jail. OptionSellers had exploited a loophole that made them subject to CFTC jurisdiction by only selling naked options of physical commodities, and not on stocks.

As for INT FCStone, the publicly traded company that cleared all of these trades, it is even worse. In 2013 the CFTC ordered this company to pay a fine of $1.5 million and absorb $127 million in losses. Currently, this company has a market capitalization of more that $700 million.

After the OptionSellers meltdown of November 2018, there was no fine, and INT FCStone was allowed to go after innocent investors for its losses. Amazingly there is no indication that the CFTC has even made an effort to quantity the losses of innocent investors.

McLeod's forthcoming book covers these issues in more detail. It is scheduled to be published by the second week of November 2019, the one-year anniversary of when OptionSellers went under.

Contact: Michael McLeod, This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE Michael R. McLeod

https://www.prnewswire.com/news-releases/mcleodaglaw-llc-the-worst-financial-scandals-of-the-last-20-years-300938904.html

 

The Worst Financial Scandals of the Last 20 Years, Including Bernie Madoff in 2008 to
the OptionSellers/INT FCStone Scandal of November 2018

In this book Mike McLeod, who is America’s most experienced lawyer in Agriculture and Derivatives Law,
takes us through the numerous financial scandals that have happened since the attacks on America on Sept. 11,
2001.

As referenced in his website http://www.mcleodaglaw.com, this latest scandal was especially grievous to McLeod
for two reasons. First, as a young General Counsel and Staff Director of the Senate Agriculture Committee, he
drafted the law that created the Commodity Futures Trading Commission in 1974. He later began his private
law practice representing futures trading clients.

Recently, he lost a large amount of his life savings when OptionSellers went down in the second week of
November 2018.

If this matter had been under the jurisdiction of the SEC, someone would already be in jail. OptionSellers had
exploited a loophole that made them subject to CFTC jurisdiction by only selling naked options of physical
commodities, and not on stocks.

As for INT FCStone, the publicly traded company that cleared all of these trades, it is even worse. In 2013 the
CFTC ordered this company to pay a fine of $1.5 million and absorb $127 million in losses. Currently, this
company has a market capitalization of more that $700 million.

After the OptionSellers meltdown of November 2018, there was no fine, and INT FCStone was allowed to go
after innocent investors for its losses. Amazingly there is no indication that the CFTC has even made an
effort to quantity the losses of innocent investors.

Mcleod’s forthcoming book covers these issues in more detail. It is scheduled to be published by the second
week of November 2019, the one-year anniversary of when OptionSellers went under.


Michael R. McLeod

In the last 20 years, there have been the worst financial scandals in American history.  The most famous was the Bernie Madoff scandal in 2008.  This was very famous because of the huge amount of money at stake.  At least 19 billion dollars was lost.  However, this money has recently been recovered.  The most recent was the Options Sellers/INT Fstone scandal of 2018.  The agency in charge, the CFTC has not divulged how much was lost in this scandal.  Hopefully, the truth will eventually come out.

 

Michael McLeod

As a voter you have every right to talk to your members of Congress. It is easier with the Senate because ever State has two Senators. It is even easier if one of them is on the committee  with jurisdiction over the CFTC, which is the Committee on Nutrition and Forestry. I know because I was the General Counsel and Staff Director when we wrote the law creating the CFTC in 1974.

Moreover, the Senate is a very collegial place. If one of your  Senators is not on the committee,  he or she will have a friend who is. We simply want the Committee to have oversight hearings this year on the OptionSellers/INT FCStone breakdown. One thing it would be good to know is how much investor money was lost. The CFTC should have this information. If they don’t have it they can get it.

The Chairman of the Committee is Senator Pat Roberts of Kansas, and the Ranking Democrat is Senator Debbie Stabenow of Michigan . Also, the leader of the Republican Majority  in the Senate is  Mitch McConnell of Kentucky and he is on the  Committee.

In the House of Representatives, the process is much the same. Every voter only has one Congressman. The committee of jurisdiction is the House Agriuculture Committee. It has more members, a total of 46. The House is controlled by Democrats and it is lead  by Speaker Nancy Pelosi. It is generally easier to talk to members of the House, because each House Member represents fewer constituents.

In both the Senate and the House, it is important to find out the name of the staff person who handles this area of responsibility for the Senator or Congressman.

Here is the link:

.Senate and House Members Link

During the recess. It may be possible to personally meet with members of Congress when they are back in their districts. If either investors or their attorneys have questions, they can reach me at my email This email address is being protected from spambots. You need JavaScript enabled to view it.

Michael R. McLeod