# COURT FINDS THAT FLORIDA RESIDENT AND TWO COMPANIES DEFRAUDED CUSTOMERS IN FOREIGN CURRENCY OPTIONS SCAM: Michael Dippolito, MAD Financial, Inc., and CTU, Inc. Agree to Pay Civil Penalty for Defrauding Investors

> CFTC release 4978-04 · 2004-08-18 · **Other enforcement** · ENFORCEMENT

## Key facts

- **Release number:** 4978-04
- **Release date:** 2004-08-18
- **Type:** Other enforcement
- **Title:** COURT FINDS THAT FLORIDA RESIDENT AND TWO COMPANIES DEFRAUDED CUSTOMERS IN FOREIGN CURRENCY OPTIONS SCAM: Michael Dippolito, MAD Financial, Inc., and CTU, Inc. Agree to Pay Civil Penalty for Defrauding Investors
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/4978-04

## 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 4978-04, "COURT FINDS THAT FLORIDA RESIDENT AND TWO COMPANIES DEFRAUDED CUSTOMERS IN FOREIGN CURRENCY OPTIONS SCAM: Michael Dippolito, MAD Financial, Inc., and CTU, Inc. Agree to Pay Civil Penalty for Defrauding Investors", 2004-08-18. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/cftc-action/4978-04.

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