CFTC Heavily Penalizes NOLA FX Founder and Bans Him for Life
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AI-assisted source synthesis · not an independent investigation.
On October 22, 2026, Finance Magnates reported that the U.S. District Court for the Eastern District of Louisiana had issued a judgment against Michael B. DePetrillo, Meteor LLC, and NOLA FX Capital Management LLC. The three defendants were ordered to pay a total of $9,211,492 in civil penalties and were permanently prohibited from participating in markets regulated by the U.S. Commodity Futures Trading Commission (CFTC) or registering with the CFTC. The report identified DePetrillo as the founder of NOLA FX. This judgment constitutes the latest development disclosed to date.
AI-written from reports · updated 3 hours ago
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- Finance MagnatesCFTC fines NOLA FX founder $9.2 million and imposes lifetime ban
The U.S. District Court for the Eastern District of Louisiana ordered Michael B. DePetrillo, Meteor LLC, and NOLA FX Capital Management LLC to pay a $9,211,492 civil monetary penalty, and permanently barred all three defendants from participating in CFTC-regulated markets or registering with the agency.
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