MICHIGAN ATTORNEY, CHARLES G. MADY, ORDERED TO PAY MORE THAN $8 MILLION TO DEFRAUDED COMMODITY POOL INVESTORS; Court Bans Defendant From Trading for His Own Account for 10 Years and Permanently Bans Him from Trading Commodity Futures or Options for Others; Commodity pool fraud

CFTC release 4863-03 · 2003-11-10 · view on cftc.gov ↗

Key facts

Release number: 4863-03
Release date: 2003-11-10
Type: Commodity pool fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4863-03

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.