Commodities Trader Bradley Schiller Sentenced to 6½ Years for Faking Statements to Raise $10 Million

Case from 2014 (U.S. Attorney's Office release: Feb. 5, 2014). Published on Scammers.com Oct. 16, 2026; case status is current as of that date.

Bradley Schiller, a former Chicago commodities trader, was sentenced to 6½ years (78 months) in federal prison for fraudulently raising more than $10 million. His sentencing began in January 2014 and was completed Feb. 5, 2014, the U.S. Attorney's Office for the Northern District of Illinois announced [1]. Prosecutors said the losses came to $5.3 million.

How the scheme worked

According to court documents cited by prosecutors [1]:

1. The pitch: From 2007 to 2012, Schiller presented himself as a successful futures trader and raised more than $10 million from funders, including The PrivateBank and Trust Co.
2. The lies: He misrepresented his trading profits, how the money would be used, the risks, and his finances. To get a $2 million credit line, he claimed a net worth of about $2.6 million and about $5.5 million in his commodities accounts in 2009. His net worth was actually negative and the accounts held nearly nothing.
3. Fake paperwork: He made Ponzi-type payments and created phony brokerage and bank statements, false financial statements and false tax forms.
4. Where the money went: Trading losses topped $1.5 million. Other money went to a Range Rover, jewelry, condo fees, rent for his mother-in-law and country club dues.

The person sentenced

Bradley Schiller, 37, Chicago

• Plea: guilty to wire fraud, October 2013.
• Sentence: 78 months in prison and $5.33 million restitution, imposed by U.S. District Judge Elaine Bucklo [1].

The FBI investigated with help from the Commodity Futures Trading Commission.

Red flags

• A trader who sends his own "brokerage statements" rather than letting you see the account at the futures broker.
• Steady profits in futures trading, which is volatile and risky.
• Requests for personal loans to fund someone's trading.

What to do if you're targeted

1. Verify account balances directly with the futures commission merchant or bank, not through the trader.
2. Check registration on the NFA's BASIC system.
3. Report suspected commodities fraud to the CFTC at cftc.gov/complaint.

Case status (as of Oct. 16, 2026)

Defendant	Court	Status as of Oct. 16, 2026	Source
Bradley Schiller, Chicago	N.D. Ill. (Judge Bucklo)	Pleaded guilty Oct. 2013; sentencing completed Feb. 5, 2014: 78 months; $5.33M restitution	[1]

The sentence was imposed in 2014; we have not found a source on Schiller's current custody status.

Sources

1. U.S. Attorney's Office, Northern District of Illinois, "Former Commodities Trader Sentenced To 6½ Years In Prison For $5.3 Million Loss To Victims In $10 Million Fraud Scheme," Feb. 5, 2014. https://www.justice.gov/usao-ndil/pr/former-commodities-trader-sentenced-6-years-prison-53-million-loss-victims-10-million

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