CFTC AND STATE OF CALIFORNIA CHARGE SAN FRANCISCO FOREIGN CURRENCY FIRM NATIONAL INVESTMENT CONSULTANTS, INC. AND OTHER COMPANIES AND INDIVIDUALS WITH FRAUD; Federal Court Freezes Assets of National Investment Consultants, Inc.; South China Investments, Inc.; Pacific Best Group Limited, a.k.a. Pacific Best Company Ltd.; Run Ping Zhou, a.k.a Flora Zhou; Yi Kerry Xu; and Wei M. Tse, a.k.a. Raymond Tse Fraud

CFTC release 5099-05 · 2005-07-21 · view on cftc.gov ↗

Key facts

Release number: 5099-05
Release date: 2005-07-21
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5099-05

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.