# 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

> CFTC release 5050-05 · 2005-02-18 · **Other enforcement** · ENFORCEMENT

## Key facts

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

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 5050-05, "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", 2005-02-18. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/cftc-action/5050-05.

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