# CALIFORNIA FOREIGN CURRENCY (FOREX) FIRM SUED FOR DEFRAUDING INVESTORS OUT OF APPROXIMATELY $2 MILLION IN COMMODITY SCAM; CFTC Charges FX First, Inc., Alexey Mironov, and William Whyte With Commodity Scam In Foreign Currency Futures; Federal District Court Judge Orders Defendants' Assets Frozen and Issues Preliminary Injunction

> CFTC release 4868-03 · 2003-11-20 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 4868-03
- **Release date:** 2003-11-20
- **Type:** Other enforcement
- **Title:** CALIFORNIA FOREIGN CURRENCY (FOREX) FIRM SUED FOR DEFRAUDING INVESTORS OUT OF APPROXIMATELY $2 MILLION IN COMMODITY SCAM; CFTC Charges FX First, Inc., Alexey Mironov, and William Whyte With Commodity Scam In Foreign Currency Futures; Federal District Court Judge Orders Defendants' Assets Frozen and Issues Preliminary Injunction
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4868-03

## 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 4868-03, "CALIFORNIA FOREIGN CURRENCY (FOREX) FIRM SUED FOR DEFRAUDING INVESTORS OUT OF APPROXIMATELY $2 MILLION IN COMMODITY SCAM; CFTC Charges FX First, Inc., Alexey Mironov, and William Whyte With Commodity Scam In Foreign Currency Futures; Federal District Court Judge Orders Defendants' Assets Frozen and Issues Preliminary Injunction", 2003-11-20. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/cftc-action/4868-03.

---

*[CFTC actions dataset](/datasets/cftc-actions) · CC0 1.0*