Full Report

Key Points

Alleged operation of a Ponzi-style investment scheme involving commodity futures trading
Raised approximately $4–5 million from investors through false performance claims
Investor funds were diverted to personal use and to pay earlier investors
Federal criminal conviction for wire fraud and civil enforcement by the CFTC
$30 million civil jury verdict awarded to defrauded investors
Permanent regulatory bans and long-term legal, financial, and reputational damage

Overview

Eric Schmickle is a U.S.-based individual who presented himself as a commodity futures trader and investment advisor through entities including Q Wealth Management Inc. and Aquinas SF LLC. He solicited funds from investors by claiming expertise in futures trading and promising strong, consistent returns. His activities came under regulatory and criminal scrutiny after authorities determined that his representations about trading performance and fund usage were false. Rather than being known for legitimate investment success, Schmickle’s public profile is now defined by federal fraud convictions, regulatory sanctions, and civil judgments related to investor deception.

Allegations and Concerns

The most serious allegations against Eric Schmickle stem from federal criminal proceedings and enforcement actions by the U.S. Commodity Futures Trading Commission (CFTC). Authorities alleged that Schmickle operated a Ponzi-style scheme from approximately 2009 to 2012, raising millions of dollars from investors by falsely claiming profitable commodity trading. Regulators and prosecutors found that trading losses were concealed, account statements and tax documents were fabricated, and investor funds were misappropriated for personal expenses and to make payments to earlier investors. Schmickle ultimately pleaded guilty to wire fraud, confirming that the misconduct involved intentional deception rather than business failure.

Customer Feedback

There is no meaningful record of positive customer or investor feedback regarding Eric Schmickle or his investment entities. His activities were not conducted through consumer-facing platforms that typically generate public reviews. Public commentary comes almost entirely from regulatory filings, court records, and legal analyses, which describe investors as victims of fraud who relied on falsified statements and misleading assurances. Media coverage consistently focuses on financial losses, betrayal of trust, and legal consequences rather than any legitimate investment outcomes.

Risk Considerations

The risks associated with Eric Schmickle are extreme. Legal risk is severe due to a federal criminal conviction, imprisonment, and permanent regulatory bans. Financial risk is high, as courts ordered restitution, civil penalties, and damages reaching tens of millions of dollars. Reputational risk is permanent, given his identification in public records as a Ponzi scheme operator and convicted fraudster. Any association with Schmickle or related ventures would expose individuals or organizations to serious legal, financial, and credibility harm.

Business Relations and Associations

Schmickle’s known business relationships center on Q Wealth Management Inc. and Aquinas SF LLC, entities he controlled and used to solicit investor funds. These entities were found to be unregistered and operated outside regulatory compliance. There is no evidence of partnerships with established, regulated financial institutions. Investor relationships were primarily personal, involving friends, family members, and acquaintances, which regulators cited as a factor in how trust was exploited.

Legal and Financial Concerns

Eric Schmickle pleaded guilty to federal wire fraud and was sentenced to a multi-year prison term. The CFTC obtained a civil order requiring restitution of approximately $3.6 million, a civil monetary penalty of about $1.5 million, and permanent bans from trading and registration in commodity markets. In addition, a civil jury awarded approximately $30 million in punitive damages to defrauded investors. These actions collectively represent severe and lasting legal and financial liabilities.

Risk Assessment Table

The reputational risk associated with Eric Schmickle is severe, as he is publicly documented as a convicted fraudster who operated a Ponzi-style investment scheme, resulting in permanent damage to credibility and trustworthiness. Legal risk is extremely high due to a federal criminal conviction, civil enforcement actions, restitution orders, punitive damages, and permanent regulatory bans. Financial risk is significant because of court-ordered restitution, civil penalties, and multi-million-dollar judgments arising from investor losses. Regulatory risk is maximal, as Schmickle is permanently barred from commodity trading and registration, eliminating any lawful participation in regulated financial markets. Operational risk is also extreme, as the collapse of his investment entities and legal prohibitions effectively prevent any continuation of legitimate investment-related activities.

Based on publicly available court records, regulatory filings, and legal case outcomes, Eric Schmickle represents a high-risk profile characterized by proven fraud, intentional deception, and misuse of investor funds. The combination of a criminal conviction, civil penalties, and permanent industry bans leaves no credible basis for trust in any investment or advisory role. For investors and professionals, this case highlights the importance of verifying regulatory registration, independently validating performance claims, and treating guaranteed or unusually consistent returns as a major warning sign.