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Commodity Futures Trading Commission 

CEA CASES 

NAME: MARVIN SPERLING 

DOCKET NUMBER: 177 

DATE: AUGUST 19, 1971 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Marvin Sperling, Respondent 

CEA Docket No. 177 

Complaint and Notice of Hearing Under the Commodity Exchange Act 

There is reason to believe that the respondent, Marvin Sperling, has violated 

the Commodity Exchange Act (7 U.S.C. 1 et seq.) and the regulations made 

pursuant thereto, and this complaint and notice of hearing is issued stating the 

charges in that respect as follows: 

I 

The respondent, Marvin Sperling, an individual, whose last known address is 

194-05 A, 67th Avenue, Fresh Meadows, New York, New York, was at all times 

material herein a member of the New York Mercantile Exchange, and an employee of 

Jacobson Commodities, Inc., a registered futures commission merchant under the 

Commodity Exchange Act. 

II 

The New York Mercantile Exchange is now and was at all times material herein 

a duly designated contract market under the Commodity Exchange Act. 

III 

On or about December 27, 1968, the respondent converted to his own use funds 

in the sum of $ 600.00, which he had received and accepted from one William 

Dalton to margin, guarantee and secure transactions in commodities for future 

delivery to be executed on the New York Mercantile Exchange for the said 

Dalton's account, which was carried with the respondent's employer, Jacobson 

Commodities, Inc. 

IV 

On or about January 16, 1969, the respondent converted to his own use funds 

in the sum of $ 600.00,which he had received and accepted from one Raymond 

Geisler to margin, guarantee and secure transactions in commodities for future 

delivery to be executed on the New York Mercantile Exchange for the said 

Geisler's account, which was carried with the respondent's employer, Jacobson 

Commodities, Inc. 

V 

The aforesaid transactions in commodities for future delivery, if executed, 

could have been used for hedging transactions in interstate commerce in such 

commodities or the products or by-products thereof, or for determining the price 

basis of transactions in interstate commerce in such commodities, or for 

delivering such commodities sold, shipped or received in interstate commerce. 

VI 
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By reason of the facts alleged in this complaint, the respondent wilfully 

violated sections 4b, 4d and 9 of the Commodity Exchange Act (7 U.S.C. 6b, 6d 

and 13) and section 1.20 of the regulations made pursuant thereto (17 CFR 1.20). 

WHEREFORE, it is hereby ordered that this complaint and notice of hearing be 

served upon the respondent and this proceeding shall be governed by sections 

0.1, 0.2, 0.4(b), 0.5 through 0.22 and 0.28 of the rules of practice under the 

Commodity Exchange Act (17 CFR 0.1, 0.2, 0.4(b), 0.5 through 0.22, 0.28). The 

respondent will have twenty (20) days after the receipt of this complaint in 

which to file with the Hearing Clerk, United States Department of Agriculture, 

Washington, D. C. 20250, an answer with an original and three copies, fully and 

completely stating the nature of the defense and admitting or denying, 

specifically and in detail, each allegation of this complaint. Allegations not 

answered will be deemed admitted for the purpose of this proceeding. Failure to 

file an answer will constitute an admission of all the allegations of this 

complaint and a waiver of hearing. The filing of an answer in which all of the 

material allegations of fact contained in the complaint are admitted likewise 

shall constitute a waiver of hearing unless a hearing is requested. The 

respondent is hereby notified that unless hearing 

is waived, a hearing will be held at 10:00 a.m., local time, on October 20, 

1971, in New York, New York, at a place therein to be specified later, before a 

referee designated to conduct such hearing. At such hearing, the respondent 

will have the right to appear and show cause, if any there be, why an 

appropriate order should not be issued in accordance with the Commodity Exchange 

Act (1) prohibiting the respondent from trading on or subject to the rules of 

any contract market, and directing that all contract markets refuse all trading 

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

(2) directing that the respondent shall cease and desist from violating the Act 

and regulations in the manner alleged herein. 

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

respondent at least twenty (20) days prior to the date set for hearing. 

Done at Washington, D. C. 

August 19, 1971 

[SEE SIGNATURE IN ORIGINAL] 

Richard E. Lyng 

Assistant Secretary 

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