# BRITISH COLUMBIA CITIZEN KEVIN STEELE CHARGED WITH DEFRAUDING OVER 200 PARTICIPANTS, INCLUDING U.S. RESIDENTS, IN $7.5 MILLION COMMODITY POOL SCHEME; Scheme Touched Victims Worldwide

> CFTC release 5080-05 · 2005-05-27 · **Commodity pool fraud** · ENFORCEMENT

## Key facts

- **Release number:** 5080-05
- **Release date:** 2005-05-27
- **Type:** Commodity pool fraud
- **Title:** BRITISH COLUMBIA CITIZEN KEVIN STEELE CHARGED WITH DEFRAUDING OVER 200 PARTICIPANTS, INCLUDING U.S. RESIDENTS, IN $7.5 MILLION COMMODITY POOL SCHEME; Scheme Touched Victims Worldwide
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/5080-05

## 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 5080-05, "BRITISH COLUMBIA CITIZEN KEVIN STEELE CHARGED WITH DEFRAUDING OVER 200 PARTICIPANTS, INCLUDING U.S. RESIDENTS, IN $7.5 MILLION COMMODITY POOL SCHEME; Scheme Touched Victims Worldwide", 2005-05-27. Retrieved via AI Analytics 2026-07-18 from https://api.ai-analytics.org/cftc-action/5080-05.

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