NFA Permanently Bars Hardee Brothers, Alleging $500,000 Investor Misled and Nearly $110,000 Misappropriated

The National Futures Association permanently barred Hardee Brothers LLC and its principal, Sidney Curtis Hardee, in January 2026 after alleging the commodity pool operator misled regulators about accepting outside investors and misappropriated nearly $110,000 of customer funds. The investigation began following a complaint from an investor who invested $500,000 in late 2021 but could not obtain redemption of $45,000 by 2024. NFA found that between 2021 and 2025, Hardee Brothers falsely reported to regulators that the pool contained only proprietary money with no outside investors, despite accepting customer funds including from the complainant. Bank records show that after receiving the $500,000 wire in November 2021, only $360,000 was transferred into the commodity pool, while approximately $30,000 was paid as a referral fee and nearly $110,000 was allegedly diverted for personal expenses and investments by Hardee. Under the settlement, Hardee Brothers must withdraw from NFA membership and may never reapply, while Hardee is permanently barred from NFA membership or association.
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