CALIFORNIA FIRM CHASE COMMODITIES CORP. & TWO INDIVIDUALS CHARGED WITH DEFRAUDING CUSTOMERS; Firm and Traders Lee Lagorio and Excel Obando Allegedly Made False Claims that Customers Would Make Large Profits with Little Risk Other enforcement

CFTC release 4973-04 · 2004-08-17 · view on cftc.gov ↗

Key facts

Release number: 4973-04
Release date: 2004-08-17
Type: Other enforcement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4973-04

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.