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CFTC orders Vitol to pay $500k penalty for position limit violations

The Commodity Futures Trading Commission (CFTC) today issued an order filing and settling charges against Vitol, Inc.

A CME Panel ordered Vitol to pay a $45,000 fine and to disgorge profits in the amount of $1,570.

Vitol committed fraud by making bribes and kickbacks to employees of state-owned entities in Brazil, Ecuador, and Mexico.