The talented Mr. Riley of Pressio, LP

Posted at February 19, 2010

Charles Ponzi

Have you heard of Pressio, LP or Pressio Capital Management, LP? Neither have I, but 19 individuals right now probably wish they had the same response. These “investors” were duped out of $3 million by a 38 year old conman going by the name of Mr. Craig Alan Riley.

During the Fall of 2006 to February 2008, Mr. Riley operated a commodity pool for which he was not registered to run. The Commodity Futures Trading Commission finally caught up with him and now Mr. Riley has a $1 million civil fine (plus Interest), owes $3,044,384.59 in restitution, and has lost his ability to trade.

Investors were promised a 25% return from Mr. Riley’s “conservative and balanced asset fund”. The other route was taken and high risk S&P 500 commodity futures contracts were bet on. $2.5 million was quickly lost by our rogue trader and to celebrate; over $500,000 was blown on personal expenses. Once the money was lost, fictitious quarterly statements were sent to investors showing how well the fund was doing. To keep confidence, some of the profits were distributed as well as pleas to investors for more contributions to help their growing mass of wealth. Those calls were heard and the party kept on.

Craig Alan Riley, you have made a ponzi out Pressio LP as well as 19 individuals residing out of Austin, TX and Newport Beach, CA.

Pressio Capital Management, LP

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  • anon

    I worked with Craig at the largest brokerage firm (in the 90s) in the US.u00a0 Never would’ve guessed this could have happened.u00a0 I was shocked to discover this.

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