CFTC v. David Skudder, Global Ag LLC and Nesvick Trading Group LLC (spoofing, 2022)

Alleged — pending

These are allegations. CFTC has filed an action; nothing in it has been proven, and the respondents have not been found liable. Everything described on this page is what the regulator alleges, not what a court has found. See our editorial policy.

✓ Checked against the primary document on October 4, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In 2022, the Commodity Futures Trading Commission brought an action against David Skudder, Global Ag LLC and Nesvick Trading Group LLC. The CFTC filed a civil complaint alleging cross-market and single-market spoofing and manipulative schemes in soybean futures and options on the CBOT. The matter is an allegation at this stage.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Commodity Futures Trading Commission announced this matter on April 14, 2022 as release 8514-22. The respondents named are David Skudder, Global Ag LLC and Nesvick Trading Group LLC (1 individual, 2 entities).

This library tags the matter as spoofing, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The CFTC filed a civil complaint alleging cross-market and single-market spoofing and manipulative schemes in soybean futures and options on the CBOT. The matter is an allegation at this stage.

The conduct is recorded against futures, with CBOT identified in the release.

Checked on 2026-10-04: no outcome found on CFTC pages; a CFTC press-release search for the defendant returns only the April 2022 filing release. The Northern District of Illinois ruled on a motion to dismiss on December 19, 2022, granting it in part and denying it in part, so the case continued past the pleading stage. We found no consent order or judgment, so the matter stays recorded as filed; secondary reports suggest it was still being litigated in 2026, which we did not confirm from a primary source.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Spoofing — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2022-04-14 CFTC release published
2. 2022-12-19 Court rules on defendants' motion to dismiss (granted in part, denied in part)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• CFTC release
• CFTC order or complaint
• Memorandum opinion and order on motion to dismiss (N.D. Ill., Doc. 18)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. If this matter has since resolved, been withdrawn or been dismissed, we want to know: submit a correction.