FEDERAL COURT ORDERS FLORIDA RESIDENTS TO REPAY DEFRAUDED FOREIGN CURRENCY (FOREX) CUSTOMERS $1.9 MILLION; Court Also Orders Defendants Daniel Fasciana and Anthony Russo to Pay Civil Penalties Totaling $6 Million and to Forfeit Certain Assets for Defrauding Customers While Selling Illegal Foreign Currency Option Contracts Other enforcement
Key facts
- Release number
- 4839-03
- Release date
- 2003-09-11
- Type
- Other enforcement
- Primary source
- https://www.cftc.gov/PressRoom/PressReleases/4839-03
About CFTC enforcement
The CFTC charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and commodity-pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension. Crypto-asset cases have been a major share since 2019.