Thanks for reading today’s update on Open Range Trading
During the spring of 2016, TradingSchools.Org 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 a lot of amazing claims regarding his supposed Futures trading performance. His sales pitch was simple–show up to his live futures trading room, copy and paste the trades of the so-called Futures trading expert, and your profits would be assured.
We smelled a rat. We specifically asked for verifiable Futures account statements that verified the Futures trades of Jody Dupont.
He gave us a wet rat. Instead of providing personal proof of his success, he proffered the hand selected and cherry-picked Futures account statements of subscribers of his live trading room. 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.