# CFTC CHARGES TEXAS-BASED COMMODITY TRADING ADVISOR NEXGEN SOFTWARE SYSTEMS, INC., AND OWNER JOHN P. NOVAK WITH COMMODITIES FRAUD; Defendants Allegedly Solicited Customers to Purchase their Advisory Services Using False Claims; Nexgen and Novak also Failed to Register as Commodity Trading Advisors

> CFTC release 4977-04 · 2004-08-18 · **Fraud** · ENFORCEMENT

## Key facts

- **Release number:** 4977-04
- **Release date:** 2004-08-18
- **Type:** Fraud
- **Title:** CFTC CHARGES TEXAS-BASED COMMODITY TRADING ADVISOR NEXGEN SOFTWARE SYSTEMS, INC., AND OWNER JOHN P. NOVAK WITH COMMODITIES FRAUD; Defendants Allegedly Solicited Customers to Purchase their Advisory Services Using False Claims; Nexgen and Novak also Failed to Register as Commodity Trading Advisors
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4977-04

## 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 4977-04, "CFTC CHARGES TEXAS-BASED COMMODITY TRADING ADVISOR NEXGEN SOFTWARE SYSTEMS, INC., AND OWNER JOHN P. NOVAK WITH COMMODITIES FRAUD; Defendants Allegedly Solicited Customers to Purchase their Advisory Services Using False Claims; Nexgen and Novak also Failed to Register as Commodity Trading Advisors", 2004-08-18. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/cftc-action/4977-04.

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