Glen Point Capital and founder Neil Phillips were sued by the U.S. Commodity Futures Trading Commission for allegedly scheming to trigger payouts on two options contracts totaling $30 million.
Following one series of trades, the CFTC says in its lawsuit, a supervisor at the brokerage firm that executed the trades heard how they went down and reacted bluntly.
"Jesus," he said, according to the complaint.
The suit, filed Thursday in federal court in Manhattan, broadens the legal issues for Mr. Phillips, who was charged by federal prosecutors in New York about three months ago with scheming to manipulate the $7.5 trillion daily market for foreign exchange. He is awaiting extradition from an Airbnb on the Spanish island of Ibiza, where he was arrested while on vacation.Mr. Phillips declined to comment on the CFTC suit. The agency said it had no comment beyond the complaint.