CHICAGO — A federal grand jury in Chicago has indicted a man accused of fraudulently causing $13 million in losses at his trading firm while giving the appearance he was making profits.
Federal prosecutors say 48-year-old Thomas Lindstrom faces four counts of commodities fraud and four counts of wire fraud. Thursday’s indictment says Lindstrom’s losses led to the collapse of his firm, Chicago-based Rock Capital Markets.
Lindstrom is due in court Tuesday. A number listed for him was disconnected and it wasn’t clear whether he had an attorney who could comment on his behalf.
Investigators say Lindstrom made trades knowing they would result in losses but not before temporarily appearing as having a substantial value. The indictment alleges Lindstrom obtained $285,000 with his scheme during a six-month period in 2014 and 2015.