CFTC CHARGES FLORIDA OPTIONS FIRM FIRST AMERICAN INVESTMENT SERVICES, INC., WITH DEFRAUDING CUSTOMERS OF OVER $12 MILLION; First American President Steve Knowles and Employees Michael Savitsky, Adam Mills, Greg Allotta, and James Eulo Allegedly Lied When Pitching Commodity Options to Customers Other enforcement

CFTC release 4943-04 · 2004-06-21 · view on cftc.gov ↗

Key facts

Release number: 4943-04
Release date: 2004-06-21
Type: Other enforcement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4943-04

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.