Cunningham Futures Clearing, agent hit with claim alleging they depleted client's trading account

By Annie Cosby | Jul 15, 2014

A Texas woman is suing over claims an investment company and its alleged agent cleared out her trading account for their own benefit.

Martha Gierhart Spear filed a lawsuit July 8 in the Cook County Circuit Court against Erik G. Roemer and Cunningham Commodities LLC, doing business as Cunningham Futures Clearing.

According to the complaint, Spear deposited $165,000 with Cunningham on July 16, 2010, and executed documents allowing Roemer to trade for her benefit. The claim states by April 2011, the account was completely depleted without Roemer or Cunningham having executed any trades for Spear.

She accuses the defendants of using her account for their own benefit, conversion and breach of fiduciary duty.

She is seeking more than $165,000 in damages and is being represented in the case by attorney Victor J. Pioli of Johnson & Bell Ltd. in Chicago.

Cook County Circuit Court Case No. 2014L007155.

This is a report on a civil lawsuit filed in the Cook County Circuit Court. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it only represents one side of the story.

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