FEDERAL COURT ORDERS LOS ANGELES FOREIGN CURRENCY FIRM AND ITS PRESIDENT TO REPAY CUSTOMERS MORE THAN $1 MILLION IN COMMODITY FUTURES TRADING COMMISSION FRAUD ACTION; Court Also Orders Payment of Over $5 Million in Civil Penalties Fraud

CFTC release 4895-04 · 2004-02-23 · view on cftc.gov ↗

Key facts

Release number: 4895-04
Release date: 2004-02-23
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4895-04

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.