# 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

> CFTC release 5079-05 · 2005-05-25 · **Fraud** · ENFORCEMENT

## Key facts

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

## 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 5079-05, "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", 2005-05-25. Retrieved via AI Analytics 2026-07-17 from https://api.ai-analytics.org/cftc-action/5079-05.

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