FEDERAL COURT FREEZES ASSETS OF FLORIDA FIRM AND FIVE INDIVIDUALS CHARGED WITH DEFRAUDING CUSTOMERS OF OVER $6 MILLION; CFTC Alleges that United Investors Group, Inc., Former Director Andrew D. Ross, CEO Paul F. Plunkett, and Traders Greg P. Allotta, Jay M. Levy, and Michael H. Savitsky III, Made False Claims that Customers Would Make Large Profits with Little Risk Other enforcement

CFTC release 5037-05 · 2005-01-11 · view on cftc.gov ↗

Key facts

Release number: 5037-05
Release date: 2005-01-11
Type: Other enforcement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5037-05

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.