In a Commodity Futures Trading Commission case, a judge has ordered former church Pastor Wesley Allen Brown, Edwards Rubin, and their Maverick International Inc. to pay approximately $8.6M combined in civil penalties and restitution. The defendants are accused of commodity pool fraud, commodity futures fraud, and federal commodity law violations.
A summary judgment order was also issued against Brown, who is serving time in prison for securities fraud and other offenses. Rubin is his brother-in-law and the president of Maverick.
According to the CFTC’s Complaint, issued in 2015, the defendants took part in a scam to solicit money for a supposed commodity pool trading futures contracts and precious metals. Brown is accused of abusing his position as pastor to influence church members to invest. Many of his targets were older investors/churchgoers. The regulator claims that the defendants misappropriated over $2M by soliciting the public for commodity futures contract trading.