CALIFORNIA RESIDENTS PAULINO RENE DIAS, JR. AND VICTOR SMITH, ALONG WITH KRUTE CORPORATION, AGREE TO PAY $2.19 MILLION TO SETTLE COMMODITY POOL FRAUD ACTION; CFTC Imposes $240,000 in Civil Penalties Orders Customer Restitution of $1.95 Million Fraud

CFTC release 5033-04 · 2004-12-27 · view on cftc.gov ↗

Key facts

Release number: 5033-04
Release date: 2004-12-27
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5033-04

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.