FEDERAL COURT ORDERS OHIO RESIDENT KEITH ELSESSER TO REPAY CUSTOMERS IN FRAUDULENT FOREIGN CURRENCY OPTIONS SCHEME; Elsesser Also Required to Pay Civil Penalty of $120,000 Fraud

Key facts

Release number

4885-04

Release date

2004-02-02

Type

Fraud

Primary source

https://www.cftc.gov/PressRoom/PressReleases/4885-04

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.