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  • Judge threatened to sic U.S. Marshals on CFTC brass

    A federal judge warned CFTC officials to appear amid $16 million settlement with Kraft Heinz and Mondelez.

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    79彩票注册网址A federal judge threatened to send U.S. Marshals after top Commodity Futures Trading Commission leadership amid a fight between the regulator, Kraft Heinz and Mondelez International over an August settlement agreement, according to Bloomberg Law, which cites newly unsealed documents.  

    79彩票注册网址Judge John Blakey of the Northern District of Illinois sought Democratic CFTC Commissioners Rostin Behnam and Dan Berkovitz along with CFTC Chairman Heath Tarbert, enforcement director James McDonald and five staff attorneys to appear in his court in mid-August or else the U.S. Marshals would apprehend them, Bloomberg Law reported. 

    The order followed the regulators' $16 million settlement of the food companies' participation in alleged manipulative trading of wheat futures in 2011. Since August, Mondelez and Kraft Heinz have questioned whether the CFTC violated the settlement’s nondisclosure provision through public statements. 

    Blakey held an emergency hearing Aug. 19 ordering the CFTC to remove three press releases on the settlement, citing complaints from Mondelez and Kraft Heinz that the agency had violated the terms of the Aug. 14 court order. The press releases were removed quickly after the Aug. 19 hearing. 

    Now the CFTC wants Blakey removed from the case, according to Bloomberg Law, arguing his actions “exceeded the proper bounds of judicial discretion.” The commission also wants contempt proceedings, if they continue, to be reassigned to a different judge.

    79彩票注册网址The CFTC, which oversees trading in U.S. commodity markets, has been battling with the companies over the allegations in U.S. District Court for Northern Illinois for more than four years, with settlement talks continuing for months. 

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