A federal court has mandated an Illinois man and his entities to pay upwards of $20 million for conducting a Ponzi scheme in the commodity pool sector. Phillip Galles and his Chicago-based Tyche companies have been found liable for defrauding investors and violating regulatory laws, according to the Commodity Futures Trading Commission's (CFTC) announcement.Court Penalizes Illinois Man $20 Million for Commodity Pool ScamGalles, who portrayed himself as a managed futures hedge-fund magnate, falsely claimed extraordinary annual returns exceeding 200% for his firms, including Tyche Asset Management LLC and several affiliated entities.These assertions, however, were a facade for a Ponzi scheme.