John Aaron Brooks, a former Citigroup Inc. trader, has been ordered by U.S. District Judge Kimba Wood of the Southern District of New York to pay a civil penalty of $500,000 for defrauding Citigroup and its subsidiary Citigroup Energy Inc. According to the Commodity Futures Trading Commission, Brooks mismarked and inflated the value of his position in ethanol futures in order to conceal trading losses.
Along with the monetary penalty, the order issued by Wood permanently bans Brooks from registering with the CFTC, bars him for seven years from trading any CFTC-regulated products, and prohibits him from trading CFTC-regulated ethanol products or having others trade them on his behalf for five years.
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