In addition to the company, the commission accused Monex owners Louis Carabini and his son Michael of committing fraud and operating an unlawful leveraged commodity platform that was not registered with the commission.
They were charged with unlawful possession of an explosive substance, unlawful possession of a revolver and unlawful possession of ammunition.
The Emergency Price Control Act grants to the Price Administrator broad powers to set maximum prices for commodities and rents and makes it unlawful for 'any person' to violate these maximum price regulations.
The lawsuit lists 14 counts of false and misleading advertising, 18 counts of unlawful computation of value, nine counts of selling prepackaged commodities in less quantity than represented and 18 counts of false labeling.
deal in, sell, or offer for sale,' in the state, 'any competing article, product, or commodity,' are declared to be against public policy, unlawful and void; and any person offending 'shall be deemed and adjudged guilty of a conspiracy to defraud, and be subject to the penalties' provided.
The traders were aware that the trading was "likely unlawful", and ignored the warning of the head of Americas commodity trading Joe Gold, who "made clear the practice was unacceptable", according to the FERC order.
The chancery court, upon the pleadings and exhibits, held that the association and agreement among the members was 'a combination in restraint of trade, and intended to hinder competition in the sale and purchase of a commodity, and was inimical to the public welfare, and unlawful.' The dissolution of the association was adjudged, and an injunction against further operations granted.
Federal commodity regulators charged six floor brokers on the New York Board of Trade with using unlawful practices in trading coffee futures at the expense of their customers.
Alabama governor Robert Bentley included a warning in his declaration: "It is unlawful for any person within the State of Alabama to impose unconscionable prices for the sale of any commodity during the period of a declared State of Emergency".
Verdict – unlawful killing.
