# NEW YORK FOREIGN CURRENCY (FOREX) FIRM CHARGED WITH STEALING MORE THAN $2.2 MILLION IN COMMODITY SCAM; CFTC Sues Lexington Royce & Associates and Artour Arakelian, Alleging They Defrauded More Than 50 Customers

> CFTC release 4916-04 · 2004-04-15 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 4916-04
- **Release date:** 2004-04-15
- **Type:** Other enforcement
- **Title:** NEW YORK FOREIGN CURRENCY (FOREX) FIRM CHARGED WITH STEALING MORE THAN $2.2 MILLION IN COMMODITY SCAM; CFTC Sues Lexington Royce & Associates and Artour Arakelian, Alleging They Defrauded More Than 50 Customers
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4916-04

## 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 4916-04, "NEW YORK FOREIGN CURRENCY (FOREX) FIRM CHARGED WITH STEALING MORE THAN $2.2 MILLION IN COMMODITY SCAM; CFTC Sues Lexington Royce & Associates and Artour Arakelian, Alleging They Defrauded More Than 50 Customers", 2004-04-15. Retrieved via AI Analytics 2026-07-07 from https://api.ai-analytics.org/cftc-action/4916-04.

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