Home Commodities Jury clears Blair man accused of defrauding commodity investors

Jury clears Blair man accused of defrauding commodity investors

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A federal jury in Omaha has cleared a Blair commodities trading adviser of wrongdoing at a civil trial where he was accused of a nearly $800,000 fraud.

The Commodity Futures Trading Commission had sought restitution against Centurion Capital Management Inc. and Terry Svejda, its president and sole director.

In a civil complaint filed in U.S. District Court in Omaha in 2021, the independent federal regulatory agency alleged that starting in 2012 Svejda fraudulently solicited and received at least $790,000 from at least 27 people to invest in a commodity pool, Decadian LLC.

Svejda, who wasn’t a registered commodity pool operator, transferred the funds into personal bank accounts and business accounts for other entities he controlled and into a personal futures trading account in his name in order to trade futures.

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Only $5,400 ever was returned to participants, many of whom were farmers.

The Commodity Futures Trading Commission alleged that, to get the money, Svejda had made false representations and misappropriated about 80% of pool participant funds in violation of the Commodity Exchange Act.

But at the end of a trial that started last week, jurors found Svejda and Centurion had not misrepresented or omitted material facts or acted knowingly or with a reckless disregard for the truth in connection with a commodity futures contract. He also had not misappropriated funds, the jury said.

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