UNITED STATES DISTRICT COURT 

SOUTHERN DISTRICT OF NEW YORK 

---------------------------------------------------------------X 

U.S. COMMODITY FUTURES 

TRADING COMMISSION, 

Plaintiff, 

V. 

RICHMOND GLOBAL ASSOCIATES, LLC, 

et. al. 

Defendants. 

---------------------------------------------------------------X 

05 CV 2181 (SAS) 

ORDER FOR ENTRY 

OF JUDGMENT BY DEFAULT 

AGAINST RICHMOND 

GLOBAL ASSOCIATES, LLC, 

RICHMOND GLOBAL 

DIRECTOR, LLC, RICHMOND 

GLOBAL MCA, LLC, 

RICHMOND GLOBAL 

MANAGED ACCOUNT, LLC, 

RICHMOND GLOBAL, LTD, 

RG GROUP HOLDINGS, LLC, 

AND VINCENT DANIO 

On February 16, 2005, the Commission commenced this action under seal with the filing 

of the Complaint charging that defendants Richmond Global Associates, LLC, Richmond Global 

Director, LLC, Richmond Global MCA, LLC, Richmond Global Managed Account, LLC, 

Richmond Global, Ltd., RG Group Holdings, LLC (collectively the "Richmond Global 

Entities"), Vincent Danio ("Danio") and others defrauded retail customers in violation of the 

Commodity Exchange Act (the "Act") and the Commission's Regulations promulgated 

thereunder (the "Regulations"). In its Complaint, the Commission alleged that the defendants 

fraudulently solicited retail customers by, among other things, making false promises of high 

returns, failing to disclose hidden commission charges, issuing account statements that falsely 

characterized the undisclosed commissions as trading losses, making false representations 

regarding the risk of foreign currency ("forex") trading as well as their experience and past 

performance in trading forex, and misappropriating customer funds. 

Also on February 16, 2005, the Court granted the Commission's application for an ex 

I 
parte statutory restraining order freezing Defendants' assets, prohibiting Defendants from 

destroying or altering any books, records or other documents and appointing a temporary 

receiver and an order to show cause why a preliminary injunction should not be entered. This 

Order remains in effect. 

The Richmond Global Entities and Danio were properly served with the Complaint and 

have failed to appear, plead, file an answer or otherwise defend this action. The Richmond 

Global Entities are business entities and Danio is not an infant, in the military or incompetent. 

On April 5 and 6, 2005, the Clerk of the Court issued certificates of default holding the 

Richmond Global Entities and Danio in default pursuant to Local Rule 55.1 and Rule 55( a) of 

the Federal Rules of Civil Procedure. 

The Commission submitted its Motion for Entry of Judgment by Default against the 

Richmond Global Entities and Danio pursuant to Local Rule 55.2(b) and Rule 55(b)(2) of the 

Federal Rules of Civil Procedure. The Court has carefully considered the Complaint, the motion, 

and other written submissions of the Commission filed with the Court, and being fully advised, 

hereby: 

GRANTS the Commission's Motion for Entry of Judgment by Default against the 

Richmond Global Entities and Danio. The Court therefore directs the entry of a permanent 

injunction and orders the Richmond Global Entities and Danio to pay restitution and a civil 

monetary penalty as set forth herein. 

ORDER 

A. Permanent Injunctions 

IT IS HEREBY ORDERED that the Richmond Global Entities and Danio are 

permanently restrained, enjoined and prohibited from directly or indirectly: 

2 
1. Cheating or defrauding or attempting to cheat or defraud other persons, or willfully 

making or causing to be made to another person any false report or statement thereof, or 

willfully entering or causing to be entered for another person any false record thereof, or 

willfully deceiving or attempting to deceive another person by any means whatsoever in 

regard to any order or contract or the disposition or execution of any order or contract, or 

in regard to any act of agency performed with respect to any order or contract for another 

person, in or in connection with any order to make, or the making of, any contract of sale 

of any commodity for future delivery, made, or to be made, for or on behalf of any other 

person if such contract for future delivery is or may be used for: 

(a) hedging any transaction in interstate commerce in a commodity or the 

products or byproducts thereof; 

(b) determining the price basis of any transaction in interstate commerce in such 

commodity; or 

(c) delivering any commodity sold, shipped, or received in interstate commerce 

for the fulfillment thereof 

in violation of Section 4b( a)(2) of the Act , 7 U .S.C. § 6b( a)(2); and 

2. Trading on or subject to the rules of any registered entity, at that term is defined in 

Section la(29) ofthe Act, 7 U.S.C. § la(29); 

3. Engaging in, controlling or directing the trading for any commodity interest account for 

or on behalf of any other person or entity, whether by power of attorney or otherwise; 

4. Soliciting or accepting any funds from any person in connection with the purchase or sale 

of any commodity interest; 

5. Applying for registration or claiming exemption from registration with the Commission 

in any capacity, and engaging in any activity requiring such registration or exemption 

from registration with the Commission, except as provided for in Regulation 4.14 (a)(9), 

17 C.F.R. § 4.14(a)(9), or acting as a principal, agent or any other officer or employee of 

any person registered, exempted from registration or required to be registered with the 

Commission, except as provided for in Regulation 4.14 (a)(9), 17 C.F.R. § 4.14(a)(9); 

6. Entering into any commodity interest transactions for their or his own personal account, 

for any account in which they or he has a direct or indirect interest and/or having any 

commodity interests traded on their or his behalf; and/or 

7. Engaging in any business activities related to commodity interest trading. 

3 
B. Order for Civil Monetary Penalty 

IT IS FURTHER ORDERED that each of the six Richmond Global Entities shall pay a 

civil monetary penalty in the amount of$240,000, consisting of$120,000 for the two substantive 

violations of the Act as set forth in the Complaint plus post judgment interest. Danio shall pay a 

civil monetary penalty in the amount of $240,000, consisting of $120,000 for the two substantive 

violations as set forth in the Complaint plus post judgment interest. Post-judgment interest shall 

be determined by using the Treasury Bill rate prevailing on the date of this Order pursuant to 28 

U.S.C. § 1961. Post-judgment interest shall accrue beginning on the date of entry of this Order. 

All payments made by the Richmond Global Entities and Danio pursuant to this Order 

shall be applied first to satisfy their civil restitution obligations and, upon satisfaction of such 

obligations, shall thereafter be applied to satisfy the civil monetary penalty. 

The Richmond Global Entities and Danio shall each pay such civil monetary penalties by 

electronic funds transfer, U.S. postal money order, certified check, bank cashier's check, or bank 

money order. If payment is to be made by other than electronic funds transfer, the payment shall 

be made payable to the U.S. Commodity Futures Trading Commission and sent to the address 

below: 

U.S. Commodity Futures Trading Commission 

Division of Enforcement 

ATTN: Marie Bateman AMZ-300 

DOT IF AAIMMAC 

6500 S. Macarthur Blvd. 

Oklahoma City, OK 73169 

If the payment is to be made by electronic funds transfer, contact Marie Bateman at 405-954-

6569 for instructions. The Richmond Global Entities and Danio shall accompany the payment of 

the penalty with a cover letter that identifies Respondent and the name and docket number of this 

4 
proceeding. The payor shall simultaneously transmit a copy of the cover letter and the form of 

payment to (a) the Director and to the Office of Cooperative Enforcement, Division of 

Enforcement, U.S. Commodity Futures Trading Commission, at Three Lafayette Centre, 1155 

21st Street, NW, Washington, D.C. 20581, and (b) Regional Counsel, U.S. Commodity Futures 

Trading Commission, Eastern Regional Office, 140 Broadway, 19th floor, New York, NY 10005. 

C. Restitution 

IT IS FURTHER ORDERED that each of the Richmond Global Entities and Danio 

shall pay and be jointly and severally liable for restitution to defrauded customers in the amount 

of$1,788,580 plus pre-judgment and post-judgment interest. Pre-judgment interest from 

February 16, 2005, to the date of this Order, shall be determined by using the underpayment rate 

established quarterly by the Internal Revenue Service pursuant to 26 U.S.C. § 6621(a)(2). Postjudgment interest shall accrue beginning on the date of entry of this Order and shall be 

determined by using the Treasury Bill rate prevailing on the date of this Order pursuant to 28 

u.s.c. § 1961. 

The Richmond Global Entities and Danio are ordered to make such restitution payments 

to Natalie A. Napierala, Esq. Counsel to the Receiver John W. Moscow, Esq. c/o Rosner & 

Napierala, LLP, 26 Broadway, 22nd Floor, New York, New York 10004-1808, by cashier's 

check, certified check or postal money order, with cover letter that identifies the name and 

docket number of this action and the name of this Court. The Richmond Global Entities and 

Danio shall simultaneously transmit a copy of the cover letter and payment to the Director of the 

Division of Enforcement and to the Office of Cooperative Enforcement, U.S. Commodity 

Futures Trading Commission, at the following address: Three Lafayette Centre, 1155 21st Street, 

NW, Washington, D.C. 20581, and to the Regional Counsel, U.S. Commodity Futures Trading 

5 
Commission, Eastern Regional Office, 140 Broadway, 19th floor, New York, NY 10005. 

Danio' s restitution obligation in this matter coincides with the criminal restitution 

obligation entered against him on November 9, 2006 by the U.S. District Court for the Southern 

District ofNew York in United States v. Dania, et al., S.D.N.Y. Docket No. 05 Cr. 157. 

Accordingly, satisfaction in any part ofDanio's criminal judgment obligation shall, to the same 

extent, simultaneously result in satisfaction ofDanio's civil restitution obligation. Moreover, 

satisfaction in any part ofDanio's civil restitution obligation in this matter will result in 

satisfaction ofDanio's criminal restitution obligation to the same extent. 

All payments made pursuant to this Order by Defendants shall first be made to the 

defrauded customers for restitution, until those amounts (including interest) are fully satisfied. 

All payments after satisfaction of restitution shall be applied to the civil monetary penalty 

described herein. 

D. Prohibition on Transfer of Funds 

IT IS FURTHER ORDERED that the Richmond Global Entities and Danio shaH not 

transfer or cause others to transfer funds or other property to the custody, possession or control 

of any other person for the purpose of concealing such funds or property from the Court, the 

Plaintiff, or any officer that may be appointed by the Court. 

E. Permanent Receiver 

IT IS FURTHER ORDERED that John W. Moscow, Esq., Baker Hostetler, 666 Fifth 

Avenue, New York, New York 10103 is appointed as a permanent equity receiver to take into his 

or her immediate custody, control, and possession all cash, cashier's checks, funds, assets, and 

property of each of the Richmond Global Entities, including funds or property of investors 

wherever found, whether held in the name of any of the Richmond Global Entities or otherwise, 

6 
including, but not limited to, all books and records of account and original entry, electronically 

stored data, tape recordings, all funds, securities, contents of safety deposit boxes, metals, 

currencies, coins, real or personal property, commodity futures trading accounts, bank and trust 

accounts, mutual fund accounts, credit card line-of-credit accounts and other assets, of whatever 

kind and nature and wherever situated, and authorizing, empowering and directing such receiver 

to collect and take charge of and to hold and administer the same subject to further order of the 

Court, in order to prevent irreparable loss, damage and injury to investors, to conserve and 

prevent the dissipation of funds, to prevent further evasions and violations of the federal 

commodity laws by the Richmond Global Entities and to satisfy its obligation to pay restitution, 

disgorge his ill-gotten gains and pay a civil monetary penalty. 

G. Jurisdiction 

IT IS FURTHER ORDERED that this Court shall retain jurisdiction of this case to 

assure compliance with this Order and for all other purposes related to this action. 

SOORDERED,at~ ~Yorkonthis_ejdayof k ,2007. 

v 

7