MICHIGAN RESIDENT CHARGED WITH DEFRAUDING PARTICIPANTS IN $1.2 MILLION COMMODITY POOL FRAUD SCHEME; Federal Court Order Freezes Assets of Defendants John Daniel Lee, Marquis Financial Management Systems, Inc., and The Marquis Group, Inc. Fraud

CFTC release 4857-03 · 2003-10-23 · view on cftc.gov ↗

Key facts

Release number: 4857-03
Release date: 2003-10-23
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4857-03

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.