CFTC Wins $547K in Consent Orders Against Two Salesmen in Commodity Pool Fraud Case

The U.S. District Court for the Southern District of Florida has entered consent orders against Steven Likos and Archie Rice, two sales agents accused of misappropriating customer money and lying to investors about withdrawals and profits, the Commodity Futures Trading Commission said on September 9, 2026.

Per the CFTC, Likos worked as a sales agent for Algo Capital LLC. The agency's order says he misappropriated customer funds and made repeated misrepresentations and omissions — including falsely assuring customers they could withdraw their money when, the CFTC says, he knew or should have known that some or all withdrawal requests were not being honored during the fall of 2022. He also misled customers about the firm's claimed use of a "proprietary trading algorithm." In reality, according to the order, Algo Capital had arranged for Traders Domain FX Ltd. to trade customer funds no later than October 2021, and Likos ignored several red flags that Traders Domain was not actually trading the money as claimed.

The separate order against Rice covers his solicitation of customers for Centurion Capital Group Inc. The CFTC says Rice also misappropriated funds, touted Centurion's "historical profits," and made false statements about customers' ability to withdraw — even while, per the order, privately expressing concern that customers would never get their money back. Rice, too, is said to have ignored red flags around Traders Domain.

The court ordered Likos to pay $320,041.38 in disgorgement and Rice to pay $227,220 in civil monetary penalties — a combined $547,261.38. Both men were permanently enjoined from further violations of the Commodity Exchange Act and hit with permanent trading and registration bans.

The consent orders resolve all claims against Likos and Rice from a CFTC enforcement action first filed September 30, 2024. The agency says its case against the remaining defendants continues.

Key facts

• Consent orders entered against Steven Likos and Archie Rice in the S.D. Fla.; announced September 9, 2026 (CFTC Release 9294-26).
• Likos: $320,041.38 in disgorgement; Rice: $227,220 in civil penalties — $547,261.38 combined (CFTC).
• Likos sold for Algo Capital LLC; Rice solicited for Centurion Capital Group Inc.; both tied to Traders Domain FX Ltd. (CFTC).
• Permanent trading and registration bans imposed on both (CFTC).
• Underlying enforcement action filed September 30, 2024 (CFTC Release 8997-24); case against remaining defendants ongoing.

The real-world read

These are consent orders — settlements — so neither man admitted or denied the findings, and the dollar figures are what the court ordered, not what victims will see. The CFTC itself flags this: it "cautions that disgorgement orders may not result in victims recovering any money" because defendants may lack the funds. Note the split — Likos was ordered to disgorge, Rice to pay a penalty — meaning the $547K is not a restitution pool for customers. The named companies (Algo Capital, Centurion, Traders Domain FX) are still live threads; this resolves two salesmen, not the alleged scheme.

Opinion, and whose

No forecasts or outside commentary were attached to the CFTC's announcement. The characterizations of intent and knowledge above are the CFTC's allegations as recorded in consent orders the defendants agreed to resolve without admitting wrongdoing.

Sources

• CFTC Press Release 9294-26 (September 9, 2026) — primary source for the consent orders, dollar amounts, bans, defendant conduct, and case timeline. Government enforcement announcement; not marketing.
• CFTC Press Release 8997-24 (referenced) — the original September 30, 2024 enforcement action filing.

This is news reporting on a legal enforcement action, not financial or legal advice.