U.S.DISTRICT COURT ISSUES ORDER REQUIRING FLORIDA RESIDENTS WILLIAM A. FOLINO, GEORGE BELANGER AND INVESTORS FREEDOM CLUB LC TO PAY OVER $2 MILLION IN RESTITUTION IN FOREX COMMODITY SCAM; William Folino Also Ordered To Pay Up To $2.3 Million In Civil Penalties Other enforcement

CFTC release 5066-05 · 2005-04-12 · view on cftc.gov ↗

Key facts

Release number: 5066-05
Release date: 2005-04-12
Type: Other enforcement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5066-05

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.