CFTC CHARGES THREE FLORIDA MEN AND TWO COMPANIES WITH $3 MILLION FOREIGN CURRENCY OPTIONS FRAUD; Melvin Webman, Larry Webman, Lyle Wexler, International Forex Advisory Group, and Worldwide Currencies Corp. Charged with Defrauding Over 125 Customers Fraud

CFTC release 5079-05 · 2005-05-25 · view on cftc.gov ↗

Key facts

Release number: 5079-05
Release date: 2005-05-25
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5079-05

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.