Commodity Scam - Cincinnati News, FOX19-WXIX TV

Commodity Scam

Investors who lost $24 million to get back just pennies on the dollar

Authorities expect victims of a commodity futures trading scheme operated from Marion will recover few of their losses. Those investors are owed more than 24 (M) million dollars. But they're expected to receive just pennies on the dollar in recovery for their losses. That's because a court-appointed receiver has found only about two (M) million dollars in assets to distribute to more than 500 clients of Philip L- Ferguson. Ferguson was principal of Ferguson Financial, B-and-F Trading and First Investors Group. He fled Marion in June 2000 and remains on the run. The television show "America's Most Wanted" aired a segment about Ferguson in January 2003.

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