U.S. COMMODITY FUTURES TRADING COMMISSION AND OTHER FEDERAL AUTHORITIES COOPERATE TO SHUT DOWN NEW YORK FOREIGN CURRENCY (FOREX) BOILER ROOM OPERATION; CFTC CHARGES RICHMOND GLOBAL ENTITIES OF STATEN ISLAND, NEW YORK AND FOUR INDIVIDUALS WITH DEFRAUDING 160 CUSTOMERS OF MILLIONS OF DOLLARS IN FOREX SCHEME; CFTC Assisted U.S. Attorney’s Office for the Southern District of New York and the Federal Bureau of Investigation Other enforcement

CFTC release 5050-05 · 2005-02-18 · view on cftc.gov ↗

Key facts

Release number: 5050-05
Release date: 2005-02-18
Type: Other enforcement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5050-05

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.