DFA, Two Former Executives to Pay $12 Mil. to Settle CFTC Charges

Posted by Brian Gould Mon, 22 Dec 2008 12:13:00 GMT

Dairy Farmers of America (DFA), its former chief executive officer Gary Hanman, and its former chief financial officer Gerald Bos will pay a $12 million civil monetary penalty for attempting to manipulate the Class III milk futures contract and exceeding speculative position limits in that contract, the US Commodity Futures Trading Commission (CFTC) announced last Tuesday.