CFTC CHARGES FOREIGN FUND FOR DEFRAUDING THOUSANDS OF CUSTOMERS IN INTERNATIONAL PONZI SCHEME; Foreign Fund, Ron Mealing and John Shirck Allegedly Operated Commodity Futures Fraud Involving Foreign Currency Trading Fraud

CFTC release 5005-04 · 2004-10-12 · view on cftc.gov ↗

Key facts

Release number: 5005-04
Release date: 2004-10-12
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5005-04

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.