Gregory Evans, a former employee of an unnamed futures commission merchant and provisionally registered swap dealer, was sued by the Commodity Futures Trading Commission for executing 30 unauthorized bilateral swap transactions opposite a customer in order to hide trading losses from his customers and his employer. The unauthorized trades are alleged to have occurred from January through July 2013 and resulted in approximately US $1.2 million of trading losses for the aggrieved customer that were later reimbursed by the firm. According to the CFTC’s complaint, filed with a US federal court in Missouri, Mr. Evans embarked on his unauthorized actions after he engaged in authorized but losing transactions for one customer, and sought to hide these losses and increase his compensation by trading without authority for another customer. The CFTC charged Mr. Evans with general fraud, fraud by deceptive devices or contrivances (under the CFTC’s new anti-fraud based manipulation authority), fraud in violation of business conduct standards for swap dealers and unauthorized transactions.