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Commodity Futures Trading Commission 

CEA CASES 

NAME: GASTON GODOY 

DOCKET NUMBER: 56 

DATE: FEBRUARY 21, 1953 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Gaston Godoy Respondent 

CEA Docket No. 56 

Complaint and notice of hearing under the Commodity Exchange Act 

The Secretary of Agriculture has reason to believe that the respondent, 

Gaston Godoy, has violated the provisions of the Commodity Exchange Act (7 

U.S.C., Chapter 1), and the rules and regulations made pursuant to its 

requirements. In accordance with the provisions of section 6(b) of the 

Commodity Exchange Act (7 U.S.C. 9), this complaint is issued alleging as 

follows: 

I 

The respondent, Gaston Godoy, is an individual whose address is Vedado, 17 

No. 752, Esq. Paseo, Havana, Cuba. 

II 

The Board of Trade of the City of Chicago (hereinafter called the Chicago 

Board of Trade) and the New York Cotton Exchange were at all times material to 

this complaint duly designated contract markets under the Commodity Exchange 

Act. 

III 

From August 1952 through January 1953, the respondent traded in commodity 

futures on the Chicago Board of Trade and the New York Cotton 

Exchange, by means of accounts in his own name and in the names of Felipe Godoy 

and Gaston Godoy, Jr., carried by various futures commission on merchants in the 

United States and Cuba. 

IV 

A. On each day between August 13, 1952 and November 10, 1952. the 

respondent's not long open contract position in lard futures on the Chicago 

Board of Trade, as reflected by the above-described ac counts, ranged from 

approximately 1,550,000 pounds to approximately 8,680,000 pounds in a single 

future. By reason of the fact that such quantities were in excess of 600,000 

pounds, the amount specified for reporting purposes, the respondent was required 

to report to the Commodity Exchange Authority, during such periods with respect 

to all transactions, deliveries, and open contract positions in all lard futures 

in accounts owned or controlled by him, as provided in section 41 of the 

Commodity Exchange Act (7 U.S.C. 6i) and sections 9.00. 9.10, 9.11, 9.13, and 

9.21 of the rules and regulations thereunder (17 CPR 9.00, 9.10, 9.11, 9.12, 

9.21). 
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B. During the said period and while the respondent was in re porting status 

as above described, the following purchases and sales of lard futures and 

deliveries of lard in satisfaction of open con tracts were and on the Chicago 

Board of Trade for accounts earned or controlled by the respondents: 

See original document-page 2 

Received 

Date 1952 Bought Sold on Delivery

1952 Future (Pounds) (Pounds) (Pounds) 

(September 4,240,000 

Aug. 29 (October 2,120,000 (November 2,120,000 

Oct. 1 October 3,400,000

Oct. 2 October 280,000

Oct. 3 October 40,000

Oct. 6 October 40,000

Oct. 7 October 240,000

Oct. 8 October 360,000

Oct. 15 October 320,000

Oct. 16 October 480,000

Oct. 17 October 760,000

Oct. 20 October 160,000

(October 200,000

Oct. 21 (November 880,000 (December 880,000 

(October 240,000

Oct. 22 (November 660,000 

(December 680,000 (October 240,000

Oct. 23 (November 800,000 

(December 800,000 (November 40,000 Oct. 27 (December 40,000 

Nov. 3 November 2,040,000

Nov. 5 November 440,000 Nov. 6 November 200,000 Nov. 7 November 120,000 

Nov. 10 November 2,040,000 

The respondent failed to report to the Commodity Exchange Authority with respect 

to such purchases, sales, and deliveries, and the resulting open contract 

positions, as required by the aforesaid sections of the Commodity Exchange Act 

and the rules and regulations. 

V 

A. On each day between August 18, 1852 and August 25, 1962, and on each day 

between October 16, 1962 end November 19, 1932, the respondent a net long open 

contract position in soybean oil futures on the Chicago Board of Trade, as 

reflected by the above-described accounts, ranged from approximately 1,020,000 

pounds to approximately 2,400,000 pounds in a single future. By reason of the 

fact that such quantities were in excess of 900,000 pounds, the amount specified 

for reporting purposes, the respondent was required to report; to the Commodity 

Exchange Authority, during such periods, with respect to all transactions and 

open contract positions in all soybean oil futures in accounts owned or 

controlled by him, as prodded by section 4i of the Commodity Exchange Act (7 

U.S.C. 61) and sections 10.00, 10.10, 10.11, 10.12, and 10.21 of the rules and 

regulations thereunder (17 CFR 10.00, 10.10, 10.11, 10.12, 10.21). 

B. During the said periods and while the respondent was in reporting status 

as above described, the following purchase and sales of bean oil futures were 

made on the Chicago Board of Trade for accounts or controlled by the respondent: 
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See original document-page 4 

Date Bought Sold 

1952 Future (Pounds) (Pounds) 

Aug. 19 December 1952 840,000 Aug. 22 October 1952 840,000

Aug. 25 October 1952 1,020,000

Oct. 16 March 1953 840,000 Oct. 17 May 1953 840,000 

Oct. 21 May 1953 480,000 

Oct. 28 May 1953 480,000 Nov. 5 May 1953 180,000 

Nov. 6 (March 1953 240,000 (May 1953 420,000 Nov. 17 May 1953 1,200,000

Nov. 18 (March 1963 960,000

(May 1953 1,200,000

Nov. 19 March 1953 1,080,000 

The respondent failed to report to the Commodity Exchange Authority with respect 

to such purchases and sales and the resulting open contract positions, as 

required by the aforesaid sections of the Commodity Exchange not and the rules 

and regulations. 

VI 

On each day between December 18, 1952 and January 9, 1953, the respondent's 

net long open contract position in cotton futures on the 

New York Cotton Exchange, as reflected by the above-described accounts ranged 

from approximately 5,600 bales to approximately 7,000 bales in a single future, 

By reason of the fact that such quantities were in excess of 5,000 bales, the 

amount specified for reporting purposes the respondent was required to report to 

the Commodity Exchange Authority, during such period, with respect to all 

transactions and open contract positions in all cotton futures in accounts owned 

or controlled by him, as provided by section 4i of the Commodity Exchange Act (7 

U.S.C. 6i) and sections 3.10, 3.11, 3.12, and 3,81 of the rules and regulative 

thereunder (17 CFR 3.10, 3.11, 3.12, 3.21). 

B. During the said period and while the respondent was in reporting status as 

above described, the following purchases of cotton futures were made on the New 

York Cotton Exchange for accounts owned or controlled by the respondent: 

1953 Bought 

Date Future (Bales) 

Dec. 19, 1952 March 1,300

Jan. 5, 1953 May 600

Jan. 6, 1953 May 400

Jan. 9, 1953 March 1,000

The respondent failed to report to the Commodity Exchange Authority with 

respect to such purchases and the resulting open contract positions as required 

by the aforesaid sections of the Commodity Exchange Act and the rules and 

regulations. 

VII 

During the two-year period immediately prior to August 2953, officials of the 

Commodity Exchange Authority round it necessary to communicate with the 

respondent thirteen times because of his continued failure to submit reports 

concerning transactions and positions in commodity futures on contract markets. 

The respondent was therefore fully informed of his obligation under the act and 

the regulations to file reports whenever hie position in the market placed his 
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in reporting statue, and his failure to file reports concerning the transactions 

described above constituted willful violations of section 41 of the Commodity 

Exchange Act and sections 3.10, 3.11, 5.12, 3.21, 9.00, 9.20, 9.11, 9.12, 9.21, 

10.00, 10.10, 10.11, 10.12, and 10.21 of the rules and regulations thereunder. 

Therefore, the said respondent, Gaston Godoy, is hereby notified to be and 

appear at a hearing to be held at 10:00 A.M., eastern standard time, on the 3rd 

day of April, 1963, in Room 149W Administration Building, United States 

Department of Agriculture, Washington, D. C., before a referee designated to 

conduct such hearing and then and there show cause, if any there be why an order 

should not be made directing that all contract markets refuse all trading 

privileges to the said respondent for such period of time as may be determined 

by the Secretary of Agriculture 

The respondent will have 20 days after the receipt of this notice of hearing 

in which to file with the Secretary of Agriculture, in triplicate, 

an answer fully and completely stating the nature of the defense sad admitting 

or denying specifically and in detail each material and relevant allegation of 

this complaint. Allegations that are not answered will be deemed admitted for 

the purpose of this proceedings 

It is ordered that this complaint and notice of hearing be served on the 

respondent by delivery of a true copy thereof by employee of the Department of 

Agriculture, or by registered mail, at least 20 days prior to the date set for 

hearing. 

Done at Washington, D. C. this 21 day of Feb. 1963 

/s/ True D. Mores 

Acting Secretary of Agriculture 

LOAD-DATE: June 11, 2008 
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