The Commodity Futures Trading Commission has asked an Oklahoma federal judge to find former Edmond hedge fund manager Mark Trimble in contempt of court for allegedly continuing to conceal and dissipate funds and failing to disclose accounts opened during a period covered by an injunction in his case.
In February, the CFTC filed an enforcement action against Trimble and his company, Phidippides Capital Management LLC, alleging that Trimble's $34 million hedge fund with about 60 investors was actually a Ponzi scheme.
In March, Trimble agreed to appointment of a receiver for him and Phidippides.
On June 1, a federal court found Trimble in contempt of court, requiring him to account for expenditures omitted from an April accounting, as well as accounting for $600,000 he withdrew from the fund in January.
The CFTC filing alleged that the day after the contempt order was issued, Trimble's wife opened a new bank account that was not disclosed to the receiver. On June 22, the agency's motion stated, a $95,558 tax refund was deposited into that account
"Since she did not work in 2008, this refund is traceable to investor funds," the filing stated. "Mark Trimble did not disclose this transaction to the receiver in his June 30 accounting."
The agency alleges that Nancy Trimble later wrote a check to the bank, withdrawing $65,040 in cash, and that Mark Trimble's mother, Kathleen Herrera, later deposited a $65,000 cashier's check into her own bank account.
The CFTC alleges that on June 26, Nancy Trimble deposited a $61,757 tax refund into her account, withdrew $10,000 in cash and, on July 1, wired $60,000 from her account to that of Herrera. …