U.S. COMMODITY FUTURES TRADING COMMISSION CHARGES PHOENIX MAN AND HIS COMPANIES WITH DEFRAUDING INVESTORS IN $25 MILLION SCAM; Ronald Holt, International Funding Association, Global Management Group, Inc., and Cambridge Global Group Charged with Misappropriation, Solicitation Fraud, and Offer of Illegal Off-Exchange Futures Contracts Fraud

CFTC release 4841-03 · 2003-09-22 · view on cftc.gov ↗

Key facts

Release number: 4841-03
Release date: 2003-09-22
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4841-03

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.