The CFTC complaint, filed in the US District Court for the Middle District of Pennsylvania on 12 July 2009, alleges that Healy defrauded investors by falsely claiming that he would invest their funds to trade commodity futures and options contracts.

Contrary to Healy's claims, he allegedly did not use investors' funds to trade futures, options, or other instruments; rather, Healy misappropriated investors' funds.

For example, the complaint alleges that Healy and his wife, relief defendant Shalese Rania Healy, also of Weston, Florida, used investor money to purchase numerous luxury vehicles (including a Porsche, Lamborghini, and several Ferraris), approximately USD1.4m worth of jewelry, gold bullion, and a USD2.4m home. The misappropriated investor funds were also allegedly used to fund approximately USD2m in home improvements and furnishings, including a USD500,000 home movie theatre, and to lease 2,500 square feet of garage space to store the vehicles. The stolen investor funds also were allegedly used to lease a luxury suite at Miami's BankAtlantic Arena.

The CFTC complaint further alleges that Healy repeatedly told an investor that Healy's futures and options trading was earning excellent returns and that distributions of these tremendous trading profits would be made in February 2009. In fact, the futures and options trading did not occur as represented by Healy.

Sand Dollar Investing Partners, a Nevada limited liability company, was named in the complaint as relief defendant, along with Shalese Rania Healy, because they received funds as a result of Healy's fraudulent conduct and have no legitimate entitlement to these funds.

At the CFTC's request, on 13 July US District Court Judge Honorable Christopher C. Conner appointed Melanie E. Damian of Miami, Florida, as receiver, froze Healy's and the relief defendants' assets, and permitted the CFTC and the receiver to seize all relevant records in the possession of Healy and the relief defendants. A preliminary injunction hearing was set for 23 July 2009.

In the continuing litigation, the CFTC seeks restitution, disgorgement of ill-gotten gains, civil monetary penalties, and permanent injunctions against further violations of the federal commodities laws and CFTC regulations and against further trading.