Default judgment ordered against GTC’s Rodrigo Molina
Following an entry of default judgment recorded against Global Trading Club scammer Rodrigo Jose Castro Molina, a court has ordered the CFTC to file for default judgment.
On August 11th the CFTC filed for an entry of default against Molina. The court clerk recorded an entry of default on August 12th.
On August 13th the court ordered the CFTC to file for default judgment within ten days.
This is a bit of an unusual step from the Texas court. Typically we see regulators able to file motion for default judgment at their own leisure.
On the same day the CFTC was ordered to file for default judgment, the regulator filed a motion requesting a fifteen day extension of time.
The cited reason for the request was a long-planned family holiday and medical situation from the CFTC attorneys handling the case.
The court granted the extension request on August 17th, giving the CFTC until September 7th to file for default judgment.
As at the time of publication a motion has yet to be filed.
Rodrigo Molina is the only Global Trading Club who failed to settle fraud charges brought by the CFTC.
Fellow defendants Cesar Garcia, Mayco Garcia and Joel Garcia settled with the CFTC early last month.