FRAUD CHARGES BROUGHT AGAINST FLORIDA FOREIGN CURRENCY FIRMS AND EMPLOYEES; CFTC Alleges that Sterling Trading Group, Inc., Universal FX, Inc., and Employees Joseph Arsenault and Andrew Stern Defrauded Customers and Defendant Graystone Browne Financial, Inc. Charged with Offering Illegal Option Contracts Fraud

CFTC release 4946-04 · 2004-06-29 · view on cftc.gov ↗

Key facts

Release number: 4946-04
Release date: 2004-06-29
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4946-04

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.