COURT ENTERS DEFAULT JUDGMENT AGAINST FLORIDA FOREIGN CURRENCY FIRM AND ITS OFFICERS GRANTING OVER $350,000 IN RESTITUTION TO CUSTOMERS IN 2003 CFTC ENFORCEMENT ACTION; Judgment Entered Against Defendants Bibas Levy Corp., Zacarias Bibas, and Hassan Sharam Stemming From CFTC Charges That They Made False Profit Claims and Misrepresented their Performance Record and the Risks of Foreign Currency Futures Trading Court judgment

CFTC release 4930-04 · 2004-05-21 · view on cftc.gov ↗

Key facts

Release number: 4930-04
Release date: 2004-05-21
Type: Court judgment
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4930-04

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.