§ 

§ 

§ 

§ 

Case 1:20-cv-00725-RP Document 22 Filed 05/24/21 Page 1 of 4 

IN THE UNITED STATES DISTRICT COURT 

FOR THE WESTERN DISTRICT OF TEXAS 

AUSTIN DIVISION 

COMMODITY FUTURES TRADING § 

COMMISSION, § 

§ 

Plaintiff, § 

§ 

v. § 1:20-CV-725-RP 

JAMES FREDERICK WALSH, 

Defendant. 

FINAL JUDGMENT 

Before the Court is the above entitled cause of action. On this day, the Court granted 

Commodity Futures Trading Commission’s (the “CFTC”) motion for a default judgment, (Dkt. 19), 

as to Defendant James Frederick Walsh (“Walsh”). Accordingly, the Court renders final judgment 

pursuant to Federal Rule of Civil Procedure 58. 

Accordingly, IT IS ORDERED that: 

Walsh, his officers, agents, servants, employees, successors, assigns, and/or attorneys, and all 

persons in active concert or participation with Walsh who receive actual notice of this Order by 

personal service or otherwise, is/are hereby permanently restrained, enjoined, and prohibited from 

engaging in conduct that violates Sections 4b(a)(2)(A) and (C), 4m(l), and 4o(1)(A) and (B) of the 

CEA, 7 U.S.C. §§ 6b(a)(2)(A), (C), 6m(l), 6o(1)(A), (B), and CFTC Regulations 5.2(b)(1) and (3), and 

5.3(a)(3)(i), 17 C.F.R. §§ 5.2(b)(1), (3), 5.3(a)(3)(i). 

Walsh, his officers, agents, servants, employees, successors, assigns, and/or attorneys, and all 

persons in active concert or participation with Walsh who receive actual notice of this Order by 

personal service or otherwise, is/are hereby permanently restrained, enjoined, and prohibited from, 

directly or indirectly: 
 

 

 

 

 

Case 1:20-cv-00725-RP Document 22 Filed 05/24/21 Page 2 of 4 

A. Entering into any transactions involving “commodity interests” (as that term is 

defined in Regulation 1.3(yy), 17 C.F.R. § 1.3(yy) (2018)), for accounts held in 

Walsh’s name or for accounts in which Walsh has a direct or indirect interest; 

B. Having commodity interests traded on Walsh’s behalf; 

C. Controlling or directing the trading for or on behalf of any other person or entity, 

whether by power of attorney or otherwise, in any account involving commodity 

interests; 

D. Soliciting or accepting funds from any person for any purpose related to trading 

forex or any other commodity interest; 

E. Applying for registration or claiming exemption from registration with the CFTC 

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

from registration with the CFTC except as provided for in CFTC Regulation 

4.14(a)(9), 17 C.F.R. § 4.14(a)(9); and 

F. Acting as a principal (as that term is defined in Regulation 3.1(a), 17 C.F.R. § 

3.1(a)), agent, or any other officer or employee of any person registered, exempted 

from registration, or required to be registered with the CFTC except as provided for 

in CFTC Regulation 4.14(a)(9). 

IT IS FURTHER ORDERED that: 

Pursuant to Section 6c(d)(1)(A) of the CEA, 7 U.S.C. § 13a−1(d)(1)(A), Walsh shall pay a

civil monetary penalty in the amount of $555,726 (i.e., $185,242 for each of the three counts in the 

Complaint). Walsh shall pay the civil monetary penalty within ten days of the date of the entry of 

this Order. If the civil monetary penalty is not paid in full within ten days of the date of entry of this 

Order, then post-judgment interest shall accrue on that amount beginning on the date of entry of 

this Order and shall be determined by using the Treasury Bill rate prevailing on the date of entry of 
 

 

 

 

 

 

Case 1:20-cv-00725-RP Document 22 Filed 05/24/21 Page 3 of 4 

this Order pursuant to 28 U.S.C. § 1961. Walsh shall pay the civil monetary penalty 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 other than by electronic funds transfer, then the payment shall be made 

payable to the Commodity Futures Trading Commission and sent to the address below: 

MMAC/ESC/AMK326 

Commodity Futures Trading Commission 

Division of Enforcement 

6500 S. MacArthur Blvd. 

Oklahoma City, OK 73169 

(405) 954-6569 office 

(405) 954-1620 fax 

9-AMC-AR-CFTC@faa.gov 

If payment by electronic funds transfer is chosen, Walsh shall contact Marie Thorne or her 

successor at the address above to receive payment instructions and shall fully comply with those 

instructions. Walsh shall send payment of the civil monetary payment with a cover letter that 

includes his name, and docket number of this proceeding. Walsh shall simultaneously transmit 

copies of the cover letter and the form of payment to: 

Chief Financial Officer 

Commodity Futures Trading Commission 

Three Lafayette Centre 

1155 21st Street, NW 

Washington, D.C. 20581 

IT IS FURTHER ORDERED that: 

Acceptance by the Commission of any partial payment of Walsh’s civil monetary penalty 

shall not be deemed a waiver of Walsh’s obligation to make further payments pursuant to this 

Order, or a waiver of the CFTC’s right to seek to compel payment of any remaining balance. 

The injunctive and equitable relief provisions of this Order shall be binding upon Walsh, 

upon any person under the authority or control of Walsh, and upon any person who receives actual 

notice of this Order, by personal service, email, facsimile, or otherwise insofar as he or she is acting 

in active concert or participation with Walsh. 
 

_____________________________________ 

Case 1:20-cv-00725-RP Document 22 Filed 05/24/21 Page 4 of 4 

All notices required to be given by any provision in this Order shall reference the name and 

docket number of this action and shall be sent certified mail, return receipt requested, to both the 

following individuals: 

Tobias Fischer 

Commodity Futures Trading Commission 

1155 21st Street, N.W. 

Washington, D.C. 20581 

Timothy J. Mulreany 

Commodity Futures Trading Commission 

1155 21st Street, N.W. 

Washington, D.C. 20581 

IT IS FINALLY ORDERED that this Court shall retain jurisdiction of this action to 

ensure compliance with this Order and for all other purposes related to this action, including any 

motion by Walsh to modify, or for relief from, the terms of this Order. 

This case is now CLOSED. 

SIGNED on May 24, 2021. 

ROBERT PITMAN 

UNITED STATES DISTRICT JUDGE