# CFTC FINDS THAT FLORIDA FIRM FIRST INVESTORS GROUP OF THE PALM BEACHES, INC. AND ITS EMPLOYEES COMMITTED FRAUD IN SOLICITING CUSTOMERS; Respondents William Scott Cordo and Mitchell Stephen Davis Ordered to pay $600,000 in Civil Penalties

> CFTC release 4932-04 · 2004-05-27 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 4932-04
- **Release date:** 2004-05-27
- **Type:** Fraud
- **Title:** CFTC FINDS THAT FLORIDA FIRM FIRST INVESTORS GROUP OF THE PALM BEACHES, INC. AND ITS EMPLOYEES COMMITTED FRAUD IN SOLICITING CUSTOMERS; Respondents William Scott Cordo and Mitchell Stephen Davis Ordered to pay $600,000 in Civil Penalties
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4932-04

## 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 4932-04, "CFTC FINDS THAT FLORIDA FIRM FIRST INVESTORS GROUP OF THE PALM BEACHES, INC. AND ITS EMPLOYEES COMMITTED FRAUD IN SOLICITING CUSTOMERS; Respondents William Scott Cordo and Mitchell Stephen Davis Ordered to pay $600,000 in Civil Penalties", 2004-05-27. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/cftc-action/4932-04.

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