Thanks for reading today’s update on Open Range Trading
Sometime ago, TradingSchools.club wrote a highly negative review of Open Range Trading. A company owned and operated by Jody Dupont of Anderson, South Carolina.
Jody Dupont sure made lots of amazing claims regarding his supposed Futures trading functionality. His sales pitch was easy –show up to his reside futures trading room, copy and paste the transactions of this so-called Futures trading pro, and your gains will be assured.
We smelled a rat. We particularly asked for verifiable Futures accounts statements that verified the Forex transactions of Jody Dupont.
He gave a wet rat. Rather than supplying personal proof of his success, he proffered the hand chosen and cherry-picked Futures accounts statements of subscribers of his live trading area. The classic strawman argument.
The CFTC listened
Shortly thereafter, the Commodity Futures Trading Commission took a closer look at Jody Dupont and Open Range Trading.
During the fall of 2016, the CFTC charged Jody Dupont with fraud, false advertising, and failure to register as CTA or Commodity Trading Advisor.
We followed up the initial investigation with yet another scathing article that detailed the alleged fraud.
The Audit of Jody Dupont
The CFTC has now completed their findings and audit of Jody Dupont and is confirming the following:
- Reported results were fraudulent.
- Defendant claimed to be trading with a real trading account. In actuality, defendant did not have a trading account.
- Defendant claimed to be a futures trader for 20 years. In actuality, defendant had traded for less than a year, prior to Open Range Trading.
- Defendant prior trading experience included two live trading accounts – both traded for less than a year and both traded at a loss.
- CFTC reported that all of the trading results reported on the website, and social media account were wholesale fraud. None of the results were real and simply created for marketing purposes.
- The use of 3rd party account statements was a fraudulent misrepresentation.
Jody Dupont has now admitted that he committed fraud.
On June 25, the CFTC fined Jody Dupont $192,000 and has banished him from participating in any futures trading activities for a period of 5 years.
Jody Dupont can now begin counting down the clock because, in 5 years, he can return with Open Range Trading Part II. The lame sequel to the original fraudulent scheme.
But Jody will instead be more clever. In speaking with Jody, he said
“I will be back! Instead of using the name Jody, I will use the name Bodi. You can’t sully the good name of Open Range Trading forever. My next venture will contain a more potent version of magical snake oil trading indicators. These new trading indicators will shower the earth with unlimited wealth. I will solve world hunger. And pay off the national debt. All on the same day.”
Thanks for reading. And Jody, please do enjoy your 5-years in the sandbox.