Mintline, Inc., Cindy Vandivier and Paul Vandivier agreed to settle an enforcement action brought by the Commodity Futures Trading Commission in a federal court in Florida that claimed they engaged in the unlawful sale of precious metals to retail clients on a financed or leveraged basis in violation of applicable law, as well as misappropriate customer funds and committed fraud. Under the terms of their settlement, defendants agreed jointly and severally to pay almost US $987,000 as restitution, and each of the individual defendants agreed to pay fines of US $1 million. Two weeks ago, the CFTC brought one case and settled another where it also alleged that companies and their principals engaged in illegal off-exchange retail-financed or leveraged transactions involving precious metals. (Click here for details in the article, “CFTC Charges One Firm and Settles With Another for Illegal Off-Exchange Precious Metals Transactions” in the February 7, 2016 edition of Bridging the Week.)