On August 6th, the CFTC announced that former Chicago flood broker Bradley Scott Schiller entered into a settlement agreement with the U.S. District Court for the Northern District of Illinois, pursuant to which Schiller is required to pay approximately $4.565 million in restitution along with a $3 million civil monetary penalty for committing commodity futures fraud from January 2008 through May 2012, when Schiller embezzled $7.8 million in investor funds and lied to customers via false account statements. Schiller will also be banned permanently from trading and registration as part of the settlement. CFTC Release 6661-13.