The U.S. Commodity Futures Trading Commission (CFTC) today announced that a federal court in Virginia entered a final default judgment and permanent injunction against Ronald W. Smith, Jr. of Vansant, Va., doing business as Safeguard 3030 Investment Club (Safeguard). The court’s order, entered on April 16, 2012, by Judge James P. Jones of the U.S. District Court for the Western District of Virginia, requires Smith to pay a $2,008,251 civil monetary penalty and restitution of $1,064,923. The order imposes permanent trading and registration bans against Smith. The order also requires the two relief defendants, Angela ... (full story)