# CFTC CHARGES FLORIDA FOREIGN CURRENCY (FOREX) FIRM AND OFFICERS WITH DEFRAUDING INVESTORS; CFTC Alleges that Defendants Bibas Levy Corp., Zacarias Bibas, and Hassan Sharam Made False Profit Claims, Misrepresented Their Performance Record and Minimized Risks of Foreign Currency Futures Trading

> CFTC release 4858-03 · 2003-10-23 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 4858-03
- **Release date:** 2003-10-23
- **Type:** Other enforcement
- **Title:** CFTC CHARGES FLORIDA FOREIGN CURRENCY (FOREX) FIRM AND OFFICERS WITH DEFRAUDING INVESTORS; CFTC Alleges that Defendants Bibas Levy Corp., Zacarias Bibas, and Hassan Sharam Made False Profit Claims, Misrepresented Their Performance Record and Minimized Risks of Foreign Currency Futures Trading
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4858-03

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 4858-03, "CFTC CHARGES FLORIDA FOREIGN CURRENCY (FOREX) FIRM AND OFFICERS WITH DEFRAUDING INVESTORS; CFTC Alleges that Defendants Bibas Levy Corp., Zacarias Bibas, and Hassan Sharam Made False Profit Claims, Misrepresented Their Performance Record and Minimized Risks of Foreign Currency Futures Trading", 2003-10-23. Retrieved via AI Analytics 2026-07-14 from https://api.ai-analytics.org/cftc-action/4858-03.

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