LOS ANGELES-AREA FOREIGN CURRENCY FIRM EMERALD WORLDWIDE HOLDINGS, INC., AND ITS PRESIDENT, JIAN ZHUANG, SANCTIONED BY COURT FOR FAILING TO COMPLY WITH CONTEMPT ORDER IN FEDERAL LAWSUIT CONCERNING INTERNATIONAL CURRENCY SCAM THAT ALLEGEDLY DEFRAUDED 300 CUSTOMERS OF OVER $5 MILLION; Court Orders Coercive Sanctions, Including Fines, And Warns Of Possible Arrest of Zhuang For Failure To Pay Other enforcement

CFTC release 5003-04 · 2004-10-04 · view on cftc.gov ↗

Key facts

Release number: 5003-04
Release date: 2004-10-04
Type: Other enforcement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5003-04

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.