September 29, 2016 / 6:36 PM / a year ago

CFTC fines, bans former Delta Air fuel executive over illegal trades

CHICAGO, Sept 29 (Reuters) - The U.S. Commodity Futures Trading Commission on Thursday penalized a former Delta Air Lines fuel trading executive $5.25 million over futures and options trades the agency said were illegal.

The CFTC ordered Jon Ruggles, who was formerly a vice president of fuel management for Delta, to give up $3.5 million in trading profits and pay a $1.75 million fine. It also permanently barred him from trading, after exchange-operator CME Group Inc banned him in June. (Reporting by Tom Polansek; Editing by Bernadette Baum)

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